Islamabad: The National Assembly has approved the federal budget for the fiscal year 2026-27 after deliberations during a session chaired by Speaker Sardar Ayaz Sadiq.
Lawmakers endorsed the budget proposals and passed the Finance Bill, paving the way for the implementation of various tax and fiscal measures from July 1.
Following the approval of the budget, the Speaker adjourned the National Assembly session until 11am on the following day.
Under the Finance Bill 2026-27, imported vehicles with engine capacities ranging from 2,000cc to 3,000cc will be subject to an 86 percent duty from July 1. Imported vehicles above 3,000cc will face a 92 percent duty under the revised taxation framework.
The bill also provides tax exemptions for the Pakistan Navy Benevolent Association and the Sindh Institute of Urology and Transplantation (SIUT), effective from the upcoming fiscal year.
In addition, provincial Employees’ Social Security Institutions, welfare organisations operating in Orangi Town, and the Make-A-Wish Foundation will continue to receive tax concessions under the approved legislation.
The budget includes a range of revenue-generation and taxation measures aimed at meeting fiscal targets while supporting selected welfare and charitable institutions through exemptions and relief provisions.
Government officials have described the budget as a step toward strengthening economic stability, increasing revenue collection and improving fiscal management during the next financial year. The approved budget is scheduled to come into effect on July 1, marking the beginning of Pakistan’s fiscal year 2026-27.