ISLAMABAD: The federal government has launched preparations for the Fiscal Year 2026-27 budget, inviting suggestions from the business community by January 30, ARY News reported.
In a notable change, the Ministry of Finance, rather than the Federal Board of Revenue (FBR), will lead the formulation of tax policy. The Ministry’s Tax Policy Office has been entrusted with full responsibility for tax reforms.
The government plans extensive consultations with stakeholders to reduce the tax burden on industries, promote foreign investment, and boost exports. The upcoming budget also aims to stimulate manufacturing, industrial growth, and the IT sector, with special focus on facilitating the digital economy.
Eco-friendly and affordable energy projects have been prioritized, alongside initiatives to create jobs for women and youth. The government has also pledged to address inequities and simplify the tax system in response to ongoing business sector concerns.
Businesses are instructed to submit their proposals via email or post using a special form provided by the finance ministry. Suggestions must include a detailed rationale, background, and projected impact on revenue, economic indicators, and the relevant sector. Only data-backed proposals will be considered for inclusion in the final budget.
