The Ministry of Finance has finalized the proposed timeline for Pakistan’s federal budget for the fiscal year 2025-2026, with plans to present the budget in the first week of June 2025. Preparatory meetings and deadlines have been set to ensure timely submission and approval of key documents.
Under the proposal, all budget documents would be completed by the end of May 2025. The National Economic Council is scheduled to meet in the second week of May, following the annual Planning Commission meeting in the first week of the same month.
The budget strategy paper is scheduled to be approved by April 18, 2025, while the Budget Review Committee will hold its sessions from February 11 to 28. Foreign exchange budget estimates are expected to be submitted by May 7.
Meanwhile, the Federal Board of Revenue (FBR) has begun preparations for the budget for the fiscal year 2025-2026. Stakeholders have been asked to submit their proposals by January 31, covering areas such as income tax, sales tax, federal excise duty and revenue generation strategies.
The FBR is also seeking recommendations to expand the tax base, simplify tax procedures, phase out exemptions, and strengthen the overall sales tax framework. These measures aim to simplify tax regulations and increase compliance across sectors.
This collaborative approach underscores the government’s focus on economic stability and transparent financial planning for the coming fiscal year.