Business Recorder
President Asif Ali Zardari has summoned the budget session for fiscal year 2026-27 of the Senate and National Assembly on June 5 (Friday), the President’s House said on Wednesday. The NA session will be held at 5pm on Friday, while the Senate session will be held at 6pm on June 5. The session has been convened under Article 54(1) of the Constitution. Last week, the National Assembly Standing Committee on Finance and Revenue directed the Tax Policy Unit of the Ministry of Finance and the Federal Board of Revenue (FBR) that the federal budget (2026–27) must move beyond short-term stabilisation measures and instead serve as a platform for sustainable economic reform, fiscal transparency, improved governance and inclusive growth. The Standing Committee on Finance and Revenue expressed serious concern about the continued reliance on indirect taxation and petroleum levies instead of sustainable tax-base expansion.
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