Islamabad, Jan 9: The federal government will present the 2025-26 budget in early June 2025.
The Finance Division’s Budget Call Circular states that the Finance Minister will present the 2024-25 federal budget in Parliament during the same timeframe.
The budget will likely be introduced in both the National Assembly and Senate on the same day.
In the previous fiscal year, the government set an ambitious tax revenue target of 13 trillion rupees (approximately $47 billion) for the year starting July 1, aiming for a nearly 40% increase from the current year.
This growth is crucial for securing a new IMF bailout deal, estimated at $6 billion to $8 billion, to avoid an economic default.
The government also plans to raise up to $1 billion through international bonds in the 2025/26 fiscal year, starting with $300 million from Chinese markets.
The upcoming budget will focus on fiscal prudence and economic stability, aiming to increase the tax-to-GDP ratio from under 10% to 13% in three years.
This initiative aligns with the government’s efforts to secure financial assistance from international bodies like the IMF and to address the nation’s fiscal challenges.
The presentation of the federal budget is a significant event in Pakistan’s economic calendar, as it outlines the government’s financial plans and priorities for the upcoming fiscal year.
The 2025-26 budget aims to shape the economy and promote fiscal responsibility and growth.
The government will present the budget in both the Senate and National Assembly on the same day.
The Lower House of the Parliament will then discuss the budgetary provisions for the next fiscal year which will last till end-June 2025. It is expected that the new budget will be approved right after these proceedings.
