The Federal Budget 2026–27 of Pakistan is now expected to be presented in the National Assembly on 12 June 2026, marking a slight revision in the earlier proposed schedule. The budget preparation process has reached its final phase, with intensive work being carried out by the Ministry of Finance in coordination with relevant federal departments, economic experts and international financial institutions.

This year’s budget is being framed under tight fiscal conditions and within the broader context of Pakistan’s ongoing commitments with the International Monetary Fund (IMF). As a result, the budget reflects not only economic priorities but also structural reforms aimed at stabilising the economy, improving revenue generation and strengthening fiscal discipline.

A notable political development ahead of the budget is the emerging consensus between the country’s major political parties. Both the Pakistan Peoples Party (PPP) and the Pakistan Muslim League-Nawaz (PML-N) have reportedly agreed on the broad contours of the budget proposals. This political alignment is considered significant, as it reflects a coordinated approach towards economic stabilisation and continuity in fiscal policy direction.

One of the most important institutional changes in recent years is the redefinition of tax policy........

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