Rs17.57tr
budget for
FY26 passed
For the first time in the country’s history, the National Assembly’s Standing Committee on Finance has made changes to the revised Finance Bill during the parliamentary process
Ansar M Bhatti
ISLAMABAD: The National Assembly on Thursday approved the federal budget for the fiscal year 2025-26, with certain amendments to the Finance Bill, despite strong protests from the opposition.
The budget, for the FY 2025-26, with a total outlay of Rs17.57 trillion was unveiled by the federal government two weeks ago.
Finance Minister Muhammad Aurangzeb presented the finance bill in the lower house, where it received backing from the ruling coalition, including the Pakistan Peoples Party (PPP). https://www.youtube.com/embed/s0ZbU_kCgPY?si=1ZayQG1p55Re8Uqs The finance bill was approved by a majority vote following a clause-by-clause reading and the adoption of amendments through the voting process.
During the proceedings, all amendments proposed by opposition lawmakers were rejected.
For the first time in the country’s history, the National Assembly’s Standing Committee on Finance has made changes to the revised Finance Bill during the parliamentary process.
The revised Finance Bill 2025-26 introduces a threshold of Rs7 million for vehicle purchases. If the invoice value for a locally manufactured vehicle or import value as assessed by the Customs Authority inclusive of all applicable taxes, duties, levies and charges exceeds this amount, the buyer will be declared as an “ineligible person”. These individuals will be required to show their financial standing by presenting their last filed tax returns when applying for booking, purchase, or registration of the vehicle.
Regarding an application for registering, recording or attesting transfer of any immovable property, there shall be a threshold exceeding Rs100 million as defined by fair market value.
In relation to investment in securities, debt securities, units of mutual funds or money market instruments subject to the condition that investment amounts up to Rs50 million shall be new investment in any financial year excluding reinvestment either by liquidation of similar type of securities and or reinvestment of returns earned on already held securities, threshold limit shall be exceeding Rs50 million.
Meanwhile, Prime Minister Shehbaz Sharif lauded the entire economic team, particularly Finance Minister Muhammad Aurangzeb, for their hard work and dedication in preparing the federal budget. He also expressed gratitude to the federal cabinet and the allied political parties for their support in finalising the budget.
Earlier in the day, the federal cabinet, in a meeting chaired by PM Shehbaz, approved the Finance Bill 2025 with amendments before it was presented in the National Assembly for voting.
In a separate decision, the cabinet decided to form a committee to address a specific agenda item related to gas policy. The committee will present its recommendations to the Supreme Court (SC) as part of ongoing legal proceedings.
Speaking in the National Assembly during a budget session on Thursday, Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari welcomed the federal government’s decision to include key proposals in the budget put forward by his party.
The former foreign minister praised the incumbent government for increasing the Benazir Income Support Programme (BISP) by a record 20%, calling it a “commendable step” and a clear reflection of the government’s commitment to social protection.
