Govt cuts taxes, ends surcharge for four salaried class income slabs

Finance Minister Muhammad Aurangzeb on Friday unveiled tax relief measures for four income slabs of salaried employees and announced the removal of the surcharge, following directives from Prime Minister Shehbaz Sharif, while presenting the 2026–27 Federal Budget in the National Assembly. Speaking in the National Assembly, Aurangzeb said, “I am pleased to announce that under…

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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),…

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Electricity capacity swells to 49,651 MW

ISLAMABAD: The installed electricity generation capacity of Pakistan has jumped up to 49,651 megawatts, reflecting an 8.5% increase primarily because of the addition of power production through solar net metering, according to the Pakistan Economic Survey 2025-26 released on Thursday. The installed generation capacity stood lower at 45,782 MW in the corresponding period (July-March) of…

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PPP denies rumours of boycotting budget session, says Bilawal to skip proceedings

Pakistan Peoples Party Chairman Bilawal Bhutto Zardari talks to media representatives at the Parliament House on Thursday. Photo: X/PPP ISLAMABAD: Chairman of the Pakistan Peoples Party (PPP), Bilawal Bhutto Zardari, reached the Parliament and joined the budget session after meeting with Foreign Minister Ishaq Dar. Earlier, PPP denied rumours that the party had decided to boycott…

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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…

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ICT exports hit $3.4b but structural gaps persist

Freelance remittances $856m, 5G auction raises $509m; experts warn of low-value trap KARACHI: Pakistan’s Information and Communication Technology (ICT) and telecommunications sectors recorded notable growth during FY2026, according to the Pakistan Economic Survey unveiled on Thursday. ICT exports reached $3.388 billion, while the trade surplus in IT and IT-enabled services stood at $2.911 billion, reflecting…

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