Islamabad: The federal government has accelerated its activities to finalise the budget for the fiscal year 2026-27 and the upcoming economic strategy, while President Asif Ali Zardari has formally started the parliamentary process by convening separate sessions of the National Assembly and Senate.
According to a statement issued by the presidency, the National Assembly session will be held on June 5 at 5 pm, while the Senate session will be held on the same day at 6 pm. According to parliamentary sources, these sessions will pave the way for important consultations on the budget, economic targets and development priorities for the upcoming fiscal year.
Government sources say that meetings of the Annual Plan Coordination Committee (APCC) and the National Economic Council (NEC) will also be held in the coming days, in which the economic performance of the current fiscal year will be reviewed and development and financial targets for the next fiscal year will be approved.
According to sources, the government is considering an economic framework in which a target of a 4.1 percent economic growth rate can be set for the fiscal year 2026-27. Along with this, the inflation rate is likely to remain close to 8.5 percent. Economists say that these growth and inflation projections depend on the global economic situation, energy prices and the country’s financial stability.
The government is also considering approving a comprehensive national development programme, the volume of which could be more than Rs 3.5 trillion. Under this programme, special attention will be paid to infrastructure, energy, transport, education, health and regional development projects.
According to economic policymakers, the main objective of the upcoming budget is to promote development activities while maintaining fiscal discipline, improve the investment climate and create favourable conditions for increasing exports. The government is of the view that continuing the reform process is essential for sustainable development.
Recent negotiations with the International Monetary Fund (IMF) are also being considered an important part of the budget-making process. According to sources, the recent consultation discussed the budget strategy for the next fiscal year, revenue targets and various aspects of economic reforms.
On the other hand, the Ministry of Finance has denied the news that emerged in recent weeks that claimed that the budget preparation process has been handed over to another government official. The ministry clarified that the budget preparation is ongoing as per the constitutional and institutional procedures, and the relevant institutions are fulfilling their responsibilities.
According to observers, the holding of parliamentary sessions and the activities of economic institutions indicate that the government is close to finalising its economic priorities for the next fiscal year. It is expected that the budget will try to maintain a balance between fiscal stability, development investment and improvement of social sectors.
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