Budget preparations enter final stage as key meetings take place today

Budget preparations enter final stage as key meetings take place today

Pakistan’s economic planning process moves into a crucial phase today as top government institutions gather ahead of the federal budget, which is scheduled to be presented on Friday.

The National Economic Council (NEC) is set to meet to review economic priorities and approve development plans for the upcoming fiscal year. In Parliament, the Senate will convene at 4:00 p.m., while the National Assembly will meet at 5:00 p.m. to discuss matters related to the budget and the country’s economic direction.

The government is also expected to release the Economic Survey of Pakistan on Thursday. The annual report provides an overview of the economy’s performance during the outgoing fiscal year and sets the stage for the presentation of the federal budget.

Senator Saleem Mandviwalla said that discussions during a high-level meeting at the Presidency helped resolve outstanding issues. He revealed that all four provinces agreed in principle to provide between Rs1.2 trillion and Rs1.7 trillion to the federal government.

According to Mandviwalla, the arrangement reflects the need for additional federal resources in light of Pakistan’s strategic and security-related challenges. The consensus among the provinces is expected to strengthen coordination between the federal and provincial governments as they work to address national priorities.

The upcoming budget will outline the government’s economic strategy for the next fiscal year, including plans for development spending, revenue collection, fiscal management, and measures aimed at supporting economic stability and national security.