ISLAMABAD, June 27 (TNF): The National Assembly on Thursday passed the federal budget for the fiscal year 2025-26, with certain amendments to the Finance Bill, overcoming strong opposition from Pakistan Tehreek-e-Insaf (PTI) lawmakers who staged protests during the session.
The budget, with a total outlay of Rs 17.57 trillion, had been unveiled by the government two weeks earlier. Finance Minister Muhammad Aurangzeb presented the Finance Bill, which secured approval through majority voting by the ruling coalition, including support from the Pakistan Peoples Party (PPP). All amendments proposed by opposition members were rejected.
In a historic first, the National Assembly’s Standing Committee on Finance introduced changes to the revised Finance Bill during the parliamentary process. Key measures in the revised bill include a Rs 7 million threshold for vehicle purchases. Buyers of locally manufactured or imported vehicles exceeding this value, inclusive of all applicable taxes, duties, and charges, will be required to provide evidence of their financial standing, such as their latest tax returns, when booking, purchasing, or registering the vehicle.
Similarly, for transactions involving immovable property, a threshold exceeding Rs 100 million has been set, based on fair market value. In the case of investments in securities, debt instruments, mutual funds, or money market instruments, any new investment exceeding Rs 50 million in a financial year (excluding reinvestment of returns or liquidation proceeds) will fall under the new conditions.
Prime Minister Shehbaz Sharif congratulated the finance team, especially Finance Minister Aurangzeb, for preparing what he described as a responsible and forward-looking budget. He also thanked the federal cabinet and allied political parties for their cooperation in finalising the document. Earlier, the cabinet had approved the amended Finance Bill before its presentation to the National Assembly. The cabinet also agreed to form a committee to provide recommendations on a gas policy matter linked to ongoing proceedings in the Supreme Court.
During the budget session, PPP Chairman Bilawal Bhutto Zardari welcomed the inclusion of his party’s proposals in the budget. He praised the government for increasing allocations for the Benazir Income Support Programme (BISP) by 20%, calling it a commendable move that reflected a firm commitment to social protection.
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