Pakistan's Information Minister Invites Opposition for Economy Charter, Defends FY27 Budget

Pakistan's Information Minister, Attaullah Tarar, addressed the National Assembly on Sunday, inviting the opposition to sign a Charter of Economy (CoE) and defending the proposed federal budget for fiscal year 2026-27 (FY27).

Tarar characterized the budget as a "sagacious" economic policy, labeling it "friendly and relief-oriented" for all. He highlighted the budget's proposal to abolish the super tax, a measure reportedly approved by Prime Minister Shehbaz Sharif. The minister also stated that revenue and foreign remittances had increased, urging the opposition to acknowledge the government's decisions, including its efforts for peace in the Middle East, asserting that the economy is "on the right track."

The government presented the FY27 budget on June 12, outlining relief measures for the salaried, corporate, real estate, and export sectors to stimulate economic activity. While emphasizing enforcement over new broad taxes, the budget proposes taxes on social media earnings and a fixed tax scheme for small traders and shopkeepers.

In response to Tarar's remarks in the National Assembly, PTI leader Asad Qaiser accused the information minister of distorting facts. Qaiser also referenced a letter PTI had written to the International Monetary Fund (IMF), stating that it contained nothing against Pakistan.

The National Assembly formally began its general debate on the federal budget for FY27 on Saturday. Lawmakers' speeches during the debate largely focused on political and local issues, with less discussion on the specific budgetary proposals. On the opening day of the debate, Opposition Leader Mehmood Khan Achakzai criticized the government’s decision to freeze development allocations for the provinces.

(Source: Dawn Pakistan)