ISLAMABAD: The National Assembly on Tuesday approved the Federal Budget 2026-27, paving the way for the implementation of new taxation measures, customs duties, and fiscal policies from July 1, 2026.
The budget session was chaired by Speaker National Assembly Sardar Ayaz Sadiq, where lawmakers formally passed the budget and approved the Finance Bill 2026-27 after completing the parliamentary process.
Following the approval of the budget, the Speaker adjourned the National Assembly session until 11:00 a.m. on Wednesday.
Key Measures in Finance Bill 2026-27
According to the Finance Bill 2026-27, customs duties on imported vehicles will remain significantly high. From July 1, imported vehicles with engine capacities ranging from 2,000cc to 3,000cc will be subject to an 86 percent duty, while vehicles exceeding 3,001cc will face a 92 percent duty.
The Finance Bill also includes tax exemption measures for selected welfare and charitable organizations. Effective July 1, tax exemptions will apply to the Pakistan Navy Benevolent Association and the Sindh Institute of Urology and Transplantation (SIUT).
In addition, provincial Employees Social Security Institutions, welfare organizations operating in Orangi Town, and the Make-A-Wish Foundation will continue to benefit from tax concessions under the approved budget framework.
The approval of the Federal Budget 2026-27 marks the completion of the government’s annual fiscal exercise and clears the way for the implementation of revenue and expenditure plans for the upcoming financial year.
