ISLAMABAD: The government has decided to summon the budget session of the National Assembly on June 1 (Monday). The budget for the next fiscal year would be presented in the house the same week.
The Senate session for considering the budget proposals would be summoned in the first week of June. Federal Finance Minister Muhammad Aurangzeb would place the budget proposals in the two houses separately.
Parliamentary sources told The News here on Friday that the last session of the National Assembly of the current fiscal year has been summoned on May 11. The summary for convening the session has been consigned to the Presidency for approval. Sources revealed that four weeks have been allocated for the passage of budget from the NA, ending on June 28.
The budget proposals would be transmitted to the Senate immediately after its presentation in the NA. The upper house of parliament will have 15 days to finalise its recommendations. The recommendations would be considered by the government before final approval of the budget, the sources said. Financial experts are of the view that the officials engaged in tabulation of the budget proposals would have to walk a tightrope while shaping proposals since the Middle East war has made the fiscal situation complex. In the meanwhile, preparations for the budget are underway, with the finance ministry focusing on sustainable growth, climate-sensitive fiscal policies and strengthening the tax base ahead of the planned exit from the IMF programme in 2027. The federal government has intensified consultations with key institutions to finalise the financial plan. The budget call circular (BCC), was issued in January to all ministries, asking for submission of budget proposals, including revised estimates for the outgoing year and budget estimates for the next fiscal year.
Sources pointed out that he most of the ministries have submitted their budget forms and project details while the review committee meetings are also underway. The budget strategy paper is in the process of conclusion while all budget documents would be finalised towards the last week of May. The 2026-27 budget is viewed as a channel, designed to transition the economy from IMF supervision stabilisation to self-sustaining growth, although it would be a hard task, experts believe.
