ISLAMABAD - The National Assembly (NA) on Tuesday passed the finance bill 2026-27 for the next fiscal year, with a total outlay of Rs 18.77 trillion, rejecting all the amendments presented by the opposition benches from the National Assembly and Senate. The federal budget 2026-27, moved by Finance Minister Muhammad Aurangzeb, approved with majority votes as the opposition members walked out from the proceedings. The federal government on June 12 had presented the annual budget 2026-27 in parliament with the overall size of the budget being Rs18.77 trillion. The government has increased the pays and pensions by seven percent for the next fiscal year. It has also recommended a 10 percent increase in the minimum monthly wage, providing relief to low-income workers. The budget projects an economic growth rate of 4 percent for the fiscal year 2026–27. Inflation is expected to remain at 8.2 percent, while the fiscal deficit has been estimated at 3.6 percent of GDP and the primary surplus is projected to reach 2 percent of GDP. The crux of the budget plan for the next fiscal year revealed that a major chunk of the budget would be utilized by the interest payment, which is estimated at Rs8.1 trillion. Allocations for pensions are projected at Rs1.2 trillion, Rs3 trillion for defense, Rs1.091 trillion for subsidies, Rs1.071 trillion for running the civil government, Rs430 billion allocated for provision of emergency and others. The government has earmarked Rs1.276 trillion for development and net lending. The tax collection target for the Federal Board of Revenue (FBR) has set Rs15.3 trillion and the non-tax collection target has been fixed at Rs5.37 trillion. The share of provinces in the federal receipts will be Rs8.8 trillion. Likewise, Rs 838 billion has been allocated for the Benazir Income Support Programme (BISP), representing a significant increase from the previous year. The government announced major relief for the salaries class in terms of reduction in income tax for four slabs. The government has proposed to slash the income tax to 20 percent from 23 pc for the salaried individuals earning between Rs2.2 million-Rs3.2 million and for the individuals earning between Rs3.2 million-Rs4.1 million, it has proposed to reduce the tax rate from 30 percent to 25pc. It has proposed to reduce the income tax from 35 percent to 29pc for the income between Rs4.1 million-Rs5.6 million. Similarly, it has recommended to cut the tax rate to 32 percent from 35pc for the salaried individuals earning between Rs5.6 million-Rs7 million. Earlier, Prime Minister Shehbaz Sharif expressed hope that the memorandum of understanding signed by the US and Iran before the two sides held talks in Switzerland over the weekend would turn into a “long-lasting agreement”. The prime minister amid desk-thumping said the developments at the recent summit in the Swiss resort of Burgenstock, where delegations from the US and Iran held an hours-long discussion with Pakistan and Qatar participating as mediators. He was confident that ‘The Islamabad Memorandum of Understanding’, signed by the United States and Iran, will evolve into a long lasting agreement within sixty days. “Pakistan played a pivotal and historic role in facilitating the truce between the two countries,” he said, adding that Pakistan made sincere and tireless efforts to bridge the differences between the United States and Iran. Sharif further said relations between the two countries have strengthened over the last three months. He said discussions will be held with the Iranian President to further strengthen them. He also responded to the concerns raised by the opposition leader, saying that the government wants development in all the four provinces. “I have always said that Pakistan will not progress until all four provinces progress,” he said. Speaker National Assembly Ayaz Sadiq, responding to the concerns raised by opposition leader Mehmood Achakzai, reaffirms commitment to constitution, parliamentary decorum and National Unity During Budget Session 2026-27. The Speaker stated that if any constitutional violation had been committed on his part, it should be clearly identified. He remarked that statements made outside the House regarding raising a private force from every household, supporting a foreign country against Pakistan, or making remarks against Pakistan’s armed forces, judiciary, and state institutions would never be allowed on the floor of the House. He emphasized that parliamentary freedom of expression must be exercised within the framework of the Constitution, rules, and established parliamentary norms. He stated that blocking anti-state, anti-institutional,or inflammatory remarks from being made in the House does not constitute a violation of the Constitution. He added that maintaining the sanctity and dignity of Parliament remains his foremost responsibility. Sadiq further observed that while some members criticize Parliament and describe it as illegitimate, they nevertheless avail themselves of opportunities to speak beyond their allocated time in parliamentary proceedings. He emphasized that democratic institutions must be respected and strengthened through constructive engagement. The Speaker also noted that parliamentary committees play a vital role in the legislative process and noted that members’ participation in committee proceedings is essential for effective parliamentary oversight and policymaking. He advised members to avoid remarks that may be construed as criticism of fellow parliamentarians and emphasized the importance of maintaining mutual respect and harmony between both Houses of Parliament. The opposition benches raising anti-government slogans walked out the proceedings of the house when the treasury benches jointly approved the federal budget 2026-27.
Three suspected robbers killed in shootout with CCD police in Chiniot
ISLAMABAD - The National Assembly (NA) on Tuesday passed the finance bill 2026-27 for the next fiscal year, with a total outlay of Rs 18.77 trillion, rejecting all the amendments presented by the opposition benches from the National Assembly and Senate. The federal budget 2026-27, moved by Finance Minister Muhammad Aurangzeb, approved with majority votes as the opposition members walked out from the proceedings. The federal government on June 12 had presented the annual budget 2026-27 in parliament with the overall size of the budget being Rs18.77 trillion. The government has increased the pays and pensions by seven percent for the next fiscal year. It has also recommended a 10 percent increase in the minimum monthly wage, providing relief to low-income workers. The budget projects an economic growth rate of 4 percent for the fiscal year 2026–27. Inflation is expected to remain at 8.2 percent, while the fiscal deficit has been estimated at 3.6 percent of GDP and the primary surplus is projected to reach 2 percent of GDP. The crux of the budget plan for the next fiscal year revealed that a major chunk of the budget would be utilized by the interest payment, which is estimated at Rs8.1 trillion. Allocations for pensions are projected at Rs1.2 trillion, Rs3 trillion for defense, Rs1.091 trillion for subsidies, Rs1.071 trillion for running the civil government, Rs430 billion allocated for provision of emergency and others. The government has earmarked Rs1.276 trillion for development and net lending. The tax collection target for the Federal Board of Revenue (FBR) has set Rs15.3 trillion and the non-tax collection target has been fixed at Rs5.37 trillion. The share of provinces in the federal receipts will be Rs8.8 trillion. Likewise, Rs 838 billion has been allocated for the Benazir Income Support Programme (BISP), representing a significant increase from the previous year. The government announced major relief for the salaries class in terms of reduction in income tax for four slabs. The government has proposed to slash the income tax to 20 percent from 23 pc for the salaried individuals earning between Rs2.2 million-Rs3.2 million and for the individuals earning between Rs3.2 million-Rs4.1 million, it has proposed to reduce the tax rate from 30 percent to 25pc. It has proposed to reduce the income tax from 35 percent to 29pc for the income between Rs4.1 million-Rs5.6 million. Similarly, it has recommended to cut the tax rate to 32 percent from 35pc for the salaried individuals earning between Rs5.6 million-Rs7 million. Earlier, Prime Minister Shehbaz Sharif expressed hope that the memorandum of understanding signed by the US and Iran before the two sides held talks in Switzerland over the weekend would turn into a “long-lasting agreement”. The prime minister amid desk-thumping said the developments at the recent summit in the Swiss resort of Burgenstock, where delegations from the US and Iran held an hours-long discussion with Pakistan and Qatar participating as mediators. He was confident that ‘The Islamabad Memorandum of Understanding’, signed by the United States and Iran, will evolve into a long lasting agreement within sixty days. “Pakistan played a pivotal and historic role in facilitating the truce between the two countries,” he said, adding that Pakistan made sincere and tireless efforts to bridge the differences between the United States and Iran. Sharif further said relations between the two countries have strengthened over the last three months. He said discussions will be held with the Iranian President to further strengthen them. He also responded to the concerns raised by the opposition leader, saying that the government wants development in all the four provinces. “I have always said that Pakistan will not progress until all four provinces progress,” he said. Speaker National Assembly Ayaz Sadiq, responding to the concerns raised by opposition leader Mehmood Achakzai, reaffirms commitment to constitution, parliamentary decorum and National Unity During Budget Session 2026-27. The Speaker stated that if any constitutional violation had been committed on his part, it should be clearly identified. He remarked that statements made outside the House regarding raising a private force from every household, supporting a foreign country against Pakistan, or making remarks against Pakistan’s armed forces, judiciary, and state institutions would never be allowed on the floor of the House. He emphasized that parliamentary freedom of expression must be exercised within the framework of the Constitution, rules, and established parliamentary norms. He stated that blocking anti-state, anti-institutional,or inflammatory remarks from being made in the House does not constitute a violation of the Constitution. He added that maintaining the sanctity and dignity of Parliament remains his foremost responsibility. Sadiq further observed that while some members criticize Parliament and describe it as illegitimate, they nevertheless avail themselves of opportunities to speak beyond their allocated time in parliamentary proceedings. He emphasized that democratic institutions must be respected and strengthened through constructive engagement. The Speaker also noted that parliamentary committees play a vital role in the legislative process and noted that members’ participation in committee proceedings is essential for effective parliamentary oversight and policymaking. He advised members to avoid remarks that may be construed as criticism of fellow parliamentarians and emphasized the importance of maintaining mutual respect and harmony between both Houses of Parliament. The opposition benches raising anti-government slogans walked out the proceedings of the house when the treasury benches jointly approved the federal budget 2026-27.
Three suspected robbers killed in shootout with CCD police in Chiniot
ISLAMABAD - The National Assembly (NA) on Tuesday passed the finance bill 2026-27 for the next fiscal year, with a total outlay of Rs 18.77 trillion, rejecting all the amendments presented by the opposition benches from the National Assembly and Senate. The federal budget 2026-27, moved by Finance Minister Muhammad Aurangzeb, approved with majority votes as the opposition members walked out from the proceedings. The federal government on June 12 had presented the annual budget 2026-27 in parliament with the overall size of the budget being Rs18.77 trillion. The government has increased the pays and pensions by seven percent for the next fiscal year. It has also recommended a 10 percent increase in the minimum monthly wage, providing relief to low-income workers. The budget projects an economic growth rate of 4 percent for the fiscal year 2026–27. Inflation is expected to remain at 8.2 percent, while the fiscal deficit has been estimated at 3.6 percent of GDP and the primary surplus is projected to reach 2 percent of GDP. The crux of the budget plan for the next fiscal year revealed that a major chunk of the budget would be utilized by the interest payment, which is estimated at Rs8.1 trillion. Allocations for pensions are projected at Rs1.2 trillion, Rs3 trillion for defense, Rs1.091 trillion for subsidies, Rs1.071 trillion for running the civil government, Rs430 billion allocated for provision of emergency and others. The government has earmarked Rs1.276 trillion for development and net lending. The tax collection target for the Federal Board of Revenue (FBR) has set Rs15.3 trillion and the non-tax collection target has been fixed at Rs5.37 trillion. The share of provinces in the federal receipts will be Rs8.8 trillion. Likewise, Rs 838 billion has been allocated for the Benazir Income Support Programme (BISP), representing a significant increase from the previous year. The government announced major relief for the salaries class in terms of reduction in income tax for four slabs. The government has proposed to slash the income tax to 20 percent from 23 pc for the salaried individuals earning between Rs2.2 million-Rs3.2 million and for the individuals earning between Rs3.2 million-Rs4.1 million, it has proposed to reduce the tax rate from 30 percent to 25pc. It has proposed to reduce the income tax from 35 percent to 29pc for the income between Rs4.1 million-Rs5.6 million. Similarly, it has recommended to cut the tax rate to 32 percent from 35pc for the salaried individuals earning between Rs5.6 million-Rs7 million. Earlier, Prime Minister Shehbaz Sharif expressed hope that the memorandum of understanding signed by the US and Iran before the two sides held talks in Switzerland over the weekend would turn into a “long-lasting agreement”. The prime minister amid desk-thumping said the developments at the recent summit in the Swiss resort of Burgenstock, where delegations from the US and Iran held an hours-long discussion with Pakistan and Qatar participating as mediators. He was confident that ‘The Islamabad Memorandum of Understanding’, signed by the United States and Iran, will evolve into a long lasting agreement within sixty days. “Pakistan played a pivotal and historic role in facilitating the truce between the two countries,” he said, adding that Pakistan made sincere and tireless efforts to bridge the differences between the United States and Iran. Sharif further said relations between the two countries have strengthened over the last three months. He said discussions will be held with the Iranian President to further strengthen them. He also responded to the concerns raised by the opposition leader, saying that the government wants development in all the four provinces. “I have always said that Pakistan will not progress until all four provinces progress,” he said. Speaker National Assembly Ayaz Sadiq, responding to the concerns raised by opposition leader Mehmood Achakzai, reaffirms commitment to constitution, parliamentary decorum and National Unity During Budget Session 2026-27. The Speaker stated that if any constitutional violation had been committed on his part, it should be clearly identified. He remarked that statements made outside the House regarding raising a private force from every household, supporting a foreign country against Pakistan, or making remarks against Pakistan’s armed forces, judiciary, and state institutions would never be allowed on the floor of the House. He emphasized that parliamentary freedom of expression must be exercised within the framework of the Constitution, rules, and established parliamentary norms. He stated that blocking anti-state, anti-institutional,or inflammatory remarks from being made in the House does not constitute a violation of the Constitution. He added that maintaining the sanctity and dignity of Parliament remains his foremost responsibility. Sadiq further observed that while some members criticize Parliament and describe it as illegitimate, they nevertheless avail themselves of opportunities to speak beyond their allocated time in parliamentary proceedings. He emphasized that democratic institutions must be respected and strengthened through constructive engagement. The Speaker also noted that parliamentary committees play a vital role in the legislative process and noted that members’ participation in committee proceedings is essential for effective parliamentary oversight and policymaking. He advised members to avoid remarks that may be construed as criticism of fellow parliamentarians and emphasized the importance of maintaining mutual respect and harmony between both Houses of Parliament. The opposition benches raising anti-government slogans walked out the proceedings of the house when the treasury benches jointly approved the federal budget 2026-27.
Three suspected robbers killed in shootout with CCD police in Chiniot