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Info minister invites opposition for Charter of Economy, defends proposed FY27 budget
🇵🇰 Pakistan /Economy & Trade

Info minister invites opposition for Charter of Economy, defends proposed FY27 budget

From Dawn · () English

Summarized and contextualized by DistantNews.

At a glance

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  • Pakistan's Information Minister Attaullah Tarar invited the opposition to sign a Charter of Economy and defended the proposed federal budget for FY27.
  • He highlighted government achievements, including revenue growth, increased foreign remittances, and the proposed abolition of the super tax.
  • The opposition, led by PTI, criticized the budget, claiming it was dictated by the IMF and would harm farmers, while offering to sign a Charter of Democracy instead.

Pakistan's Information Minister Attaullah Tarar has extended an invitation to the opposition parties to join in signing a Charter of Economy (CoE), while also defending the government's proposed federal budget for the fiscal year 2026-27. Speaking on the floor of the National Assembly, Tarar lauded the government's "sagacious" economic policies, describing the budget as "friendly and relief-oriented." He specifically noted the proposal to abolish the super tax, a move approved by Prime Minister Shehbaz Sharif, and pointed to increases in revenue and foreign remittances as signs of economic progress.

It’s a friendly and relief-oriented budget for all.

— Attaullah TararDescribing the federal budget for FY27 during a session in the National Assembly.

Tarar urged the opposition to acknowledge the government's positive decisions, including its efforts towards peace in the Middle East, asserting that "the economy is on the right track." The budget, presented on June 12, includes relief measures for salaried individuals, corporations, the real estate sector, and exporters, aiming to stimulate economic activity. While focusing on enforcement, the government has also proposed taxes on social media earnings and a fixed tax scheme for small traders.

Today the economy is on the right track.

— Attaullah TararAsserting the positive direction of Pakistan's economy.

In response, PTI leader Asad Qaiser countered by offering to sign a Charter of Democracy to ensure an independent election commission and judiciary, accusing the minister of misrepresenting facts. Qaiser claimed that all budgetary proposals originated from the International Monetary Fund (IMF) and predicted significant losses for Punjab's farmers due to a lack of agricultural sector relief. He also alleged that 90 companies had ceased operations and investments in Pakistan.

Has he (minister) read the letter that PTI wrote to the IMF? We have not written anything against Pakistan.

— Asad QaiserResponding to accusations and defending PTI's stance regarding the IMF.

The National Assembly commenced a general debate on the FY27 budget, with lawmakers largely focusing on political and local issues. Opposition Leader Mehmood Khan Achakzai had previously met with Prime Minister Shehbaz Sharif. During the budget debate's opening day, Achakzai criticized the government's decision to freeze development allocations for provinces.

All of the budgetary proposals had come from the International Monetary Fund (IMF).

— Asad QaiserClaiming that the budget's proposals were dictated by the IMF.
DistantNews Editorial

Originally published by Dawn. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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