Pakistan is set to release its annual Economic Survey for the fiscal year 2025-26 today, Thursday, as the government prepares to present the federal budget for the upcoming fiscal year. The survey, a key government document, will highlight the performance of major sectors in the outgoing fiscal year.
Survey Launch Details
Finance Minister Muhammad Aurangzeb will unveil the Pakistan Economic Survey (PES) FY2025-26 at the Pakistan Secretariat in Islamabad at 2:20 p.m. The announcement was made by Khurram Schehzad, adviser to the finance minister, on Wednesday. Typically, the survey is released a day before the federal budget, which is now scheduled for June 12 after two postponements.
Budget Delays and Consultations
The government initially planned to present the budget on June 5, but it was moved to June 10 and then to June 12 to allow time for consultations with coalition partners. Federal Minister for Parliamentary Affairs Tariq Fazal Chaudhry told Arab News that the delays were necessary to build consensus on key decisions.
Political leaders involved in the budget discussions have highlighted disagreements over taxation, public welfare spending, and resource distribution between the federal government and the four provinces. A senior leader of the Pakistan Peoples Party (PPP), a key ally in Prime Minister Shehbaz Sharif's coalition, emphasized the need for a "people-friendly" budget and opposed any reduction in provincial funding under the National Finance Commission (NFC) award.
IMF Program and Fiscal Reforms
The budget is expected to reflect revenue targets and fiscal reforms linked to Pakistan's $7 billion International Monetary Fund (IMF) program. According to officials, the IMF has requested additional fiscal measures worth at least Rs430 billion ($1.5 billion) in the upcoming budget, along with a nearly matching contribution from the provinces. The government aims to maintain fiscal discipline while addressing demands for tax relief and increased social spending.
