Federation will transfer Rs7.4tr to provinces, says finance minister

Finance Minister Muhammad Aurangzeb presents Budget 2026-27 in the National Assembly on Friday. — SCREENGRAB Finance Minister Muhammad Aurangzeb on Friday said the provincial share under the National Finance Commission (NFC) Award would remain unchanged. He said substantial allocations had been made for newly merged districts of Khyber-Pakhtunkhwa (K-P), Gilgit-Baltistan (G-B) and Azad Jammu and Kashmir (AJK),…

Read More

Govt proposes Rs1tr development budget

Water Resources Division is the largest beneficiary with Rs103.80b, followed by Rs88b proposed for Power Division ISLAMABAD: Ahead of the presentation of the federal budget for Fiscal Year 2026-27, the government on Friday proposed a Federal Public Sector Development Programme (PSDP) of Rs1 trillion as part of the broader Rs17.5 trillion budget, according to official…

Read More

FM Dar, EU’s Kallas welcome progress in US-Iran talks, hope for lasting agreement

Both leaders reaffirm dialogue, diplomacy only viable means to resolve conflicts, achieve lasting peace and stability European Union High Representative for Foreign Affairs and Security Policy Kaja Kallas holds meetings with Deputy Prime Minister and Foreign Minister Ishaq Dar. PHOTO: FO Deputy Prime Minister and Foreign Minister Ishaq Dar and European Union High Representative/Vice President…

Read More

PM Shehbaz approves Budget 2026–27 draft

Prime Minister Shehbaz Sharif. Photo: APP/ File Prime Minister Shehbaz Sharif on Friday approved the draft of the Federal Budget 2026–27. He chaired a cabinet meeting in Islamabad to review the budget proposals. PM Shehbaz expressed gratitude to coalition parties for their full support in the Budget 2026–27. The prime minister also thanked the International…

Read More

President Zardari approves bill, completes legal requirement for PIA privatisation

Bill was passed by Senate on June 10 this year, subsequently approved by National Assembly on June 11 President Asif Ali Zardari on Friday gave his assent to the Pakistan International Airlines Corporation (Conversion) (Repeal) Bill, 2026, completing a key legal requirement for the privatisation of Pakistan International Airlines Company Limited (PIACL). According to a…

Read More

Pakistan Army team secures first place at International Pacesticking Competition 2026 in UK

Total of 16 international teams from different armies participated in annual event, military’s media wing says Pakistan Army team, represented by the Pakistan Military Academy (PMA), secured first place at the International Pacesticking Competition 2026 held at the Royal Military Academy (RMA) Sandhurst, United Kingdom (UK), the military’s media wing said on Friday. According to…

Read More

Govt to unveil Rs17.5tr budget

ISLAMABAD: The government is set to unveil a massive Rs17.5 trillion (approximately $61 billion) consolidated budget for the fiscal year 2026–27 on Friday (today) to meet strict International Monetary Fund austerity conditions. The framework sets an ambitious Federal Board of Revenue tax target of Rs15.267 trillion and targets a 4.1% GDP growth. The high-stakes spending…

Read More