Parliamentary Affairs Minister Tariq Fazal Chaudhry announced on Tuesday that summaries have been sent for convening sessions of both houses of Parliament on June 10, ahead of the federal budget scheduled to be presented on June 12. In a post on X, the minister stated that the National Assembly session has been proposed for June 10 at 5pm, while the Senate session is expected to be called the same day at 4pm. He added that a summary for the sittings of both houses has been forwarded for approval and that the federal budget is likely to be presented on June 12.
Budget Timeline and Delays
The federal budget was initially expected on June 5. However, reports of a delay emerged, with the presentation likely shifting to June 10 or 12 following the postponement of the National Economic Council (NEC) meeting. A high-level meeting between President Asif Zardari and Prime Minister Shehbaz Sharif occurred on Monday, the same day the government postponed the NEC meeting for the third time. The NEC is the body mandated to approve development budgets and the national macroeconomic framework.
IMF Influence and Provincial Shares
The budget is drawing intense scrutiny as it is being finalized under Pakistan's $7 billion IMF Extended Fund Facility, alongside a separate climate resilience financing program. The central government plans to extract Rs1.2 trillion from the shares of provinces under the National Finance Commission (NFC) for the fiscal year 2026-27. This has delayed the budget announcement, causing uncertainty over budget dates. The IMF continues to press Islamabad to maintain fiscal consolidation and structural reforms aimed at restoring macroeconomic stability and strengthening external reserves.
Regional Volatility and Economic Concerns
The budgetary exercise is also occurring amid growing regional volatility linked to the US-Iran conflict, which has disrupted global shipping lanes and energy markets, raising concerns about Pakistan's import costs and external account pressures.
Once tabled in the National Assembly, the federal budget will undergo debate from both treasury and opposition lawmakers before being put to a vote and approved ahead of the new fiscal year beginning on July 1.
