PM Shehbaz Vows to Support Poor and Middle Class in FY26 Budget

Prime Minister Muhammad Shahbaz Sharif on Friday chaired a key meeting to review preparations for the federal budget 2025-26. He urged focus on relief measures, tax rationalization, and policies to drive export-led growth next fiscal year. The Prime Minister directed that the upcoming budget must prioritize relief for low- and middle-income groups, with all available resources focused on reducing their financial burden. He also instructed that special attention be given to creating employment opportunities and launching vocational training programs for the youth. Officials briefed the Prime Minister that consultations with stakeholders from various economic sectors had been underway for the past three months. A five-year trade policy framework (2025–2030) is nearing completion, alongside the finalization of the e-commerce 2.0 policy and a comprehensive plan for tariff rationalization. The PM ordered that the new budget must promote export-oriented projects and provide incentives to boost industrial output. Sectors such as agriculture, information technology, SMEs, and housing will receive priority allocations, given their economic potential. He noted that reforms in the power sector are producing positive results, particularly in lowering electricity costs for industries. The promotion of public-private partnership projects will also be a key component of the next budget. Also, the right-sizing of the federal government will continue in the new fiscal year as part of broader efficiency reforms, the premier added. A delegation of business leaders attending the meeting expressed confidence in the government’s economic approach. The Prime Minister welcomed their input and directed that private-sector recommendations be incorporated into the final budget proposals.