Hard times over, PM declares

Prime Minister Shehbaz Sharif described the federal budget for 2026-27 as a budget of relief on Friday, saying the

Prime Minister Shehbaz Sharif described the federal budget for 2026-27 as a budget of relief on Friday, saying the government had achieved economic stability and was now in a position to pass its benefits on to ordinary citizens.

In a statement from the Prime Minister’s Office, Shehbaz Sharif said the difficult period was over and that prosperity had now formally begun. He thanked the people of Pakistan for their patience during years of economic hardship and said they deserved the relief now being provided.

The prime minister said the budget was aimed at reducing the burden on the salaried class, encouraging investment, promoting exports, and supporting agricultural and industrial growth. He said the primary goal was to ensure that the gains of a more stable economy reached every segment of society.

Shehbaz Sharif acknowledged that the journey had been painful. He said taxes had to be imposed in recent years to correct long-standing economic distortions and to widen the path toward development. He thanked citizens for bearing inflation with patience and tolerance.

He noted that inflation had fallen from 38% to around 7% over the past two years. The policy rate had also dropped from 22.5% to 11%. He said further improvement had been expected but pressure from the Gulf crisis had created new challenges.

The prime minister said Pakistan’s main economic indicators were now in a stable position and expressed hope that after the approval of this third budget the economy would begin to grow at a faster pace.

He also called for urgent investment in water reservoirs, dams, and local energy sources including solar panels. He said funds needed to be released for these priorities without delay.

He thanked the finance minister, the army chief, the deputy prime minister, provincial chief ministers, and the broader economic team for their contributions to the budget.