PM Shehbaz terms federal budget 'people-friendly', hopes it will promote an 'export-oriented' economy

Prime Minister Shehbaz Sharif on Wednesday termed the federal budget for fiscal year 2026-27 “people-friendly” and hoped that it would promote an “export-oriented” economy. He made the remarks in a meeting with women parliamentarians from the PML-N, where he thanked them for their participation in the ongoing budget debate. He expressed hope that people will be able to benefit from the “relief-oriented” budget after the restoration of peace in the region, according to a press statement issued by the Prime Minister’s Office (PMO). According to the statement, PM Shehbaz noted that the budget had introduced “measures to empower women in the country as well as increase their inclusion in the mainstream,” terming it a “top priority” for the government. He also spoke of Pakistan’s peace efforts in the US-Iran war , expressing gratitude to countries who supported Pakistan throughout the peace process. PM Shehbaz commended the efforts of the Chief of Defence Forces and Chief of Army Staff, Field Marshal Asim Munir, Deputy Prime Minister and Foreign Minister Ishaq Dar and Interior Minister Mohsin Naqvi for their role in the peace process. “Only with the establishment of lasting peace in the region, the dream of economic prosperity for Pakistan and other countries can be fulfilled,” he told the meeting. At this, he recalled the government’s efforts to shield the public from a “wave of global inflation” that emerged in the wake of the US-Iran crisis. “With the cooperation of federal and provincial governments, a historic package was given to the economically weaker sections of the society,” he remarked, recalling a Rs128bn subsidy and austerity drive launched in March. “In the current situation, the federation and the provinces have fully cooperated to keep the country’s economy stable, for which the provincial governments are deeply grateful,” he stressed. He outlined that for the next year’s budget, the government will focus on “national interests, especially increasing water resources, IT, agriculture and minerals, to provide a strong foundation for the Pakistani economy”. The prime minister expressed hope that the collective struggle of “team Pakistan” will place the country among the “developed world”. During the meeting, the women parliamentarians lauded PM Shehbaz for his role in the US-Iran negotiation process as well as the government’s measures for women’s development in the federal budget. “The MPs presented the prime minister with suggestions regarding ongoing projects and budgets related to public welfare in the relevant constituencies,” the statement read. The meeting was attended by members of parliament including Syeda Nosheen Iftikhar, Begum Tehmina Daultana, Shaista Khan, Tahira Aurangzeb, Shaista Pervaiz, Muneeba Iqbal, among others. The meeting was also attended by Defence Minister Khawaja Muhammad Asif, IT Minister Shaza Fatima Khawaja, Parliamentary Affairs Minister Dr Tariq Fazal Chaudhry and other relevant officials, the statement said. In the budget for the upcoming fiscal year, the government has announced a three-year freeze on provincial transfers as the government reallocated resources for security needs and relief measures for the salaried, corporate, real estate and export sectors to revive struggling economic activity. It has also proposed taxes on social media earnings, a fixed tax scheme for small traders and shopkeepers, a higher minimum tax rate for wholesalers and retailers, incentives for small electric vehicles and bikes, and barriers for luxury e-vehicles. During the budget presentation, Finance Minister Muhammad Aurangzeb said the budget had been prepared with a clear strategy aimed at increasing productivity and promoting exports. Info minister terms budget ‘positive and relief-oriented’ Earlier in the day, Information Minister Attaullah Tarar termed the federal budget for the upcoming fiscal year “positive and relief-oriented” while addressing a press briefing alongside State Minister for Finance Bilal Azhar Kayani. At the outset, the information minister said that certain segments were criticising for the sake of criticising. “When Pakistan was on the brink of default … our macroeconomic indicators were at their lowest,” he said. He alleged that some government officials “went on holiday”, saying that they did not want the country to default during their tenure. He recalled that at the time, no one was ready to work on the economy. “In such a time, it was the PML-N leadership that stepped in and stabilised the economy as per the vision of Nawaz Sharif,” he said. He recalled that when PM Shehbaz took charge of the government, several difficulties came up at the time as well. He said that in the last two years, PM Shehbaz had always reassured the public that the government would provide relief whenever there was room for it. “We did not just wait for room; we created it through