Budget stays on schedule; no solar panel tax hike: Fin Sec

ISLAMABAD: Finance Secretary Imdadullah Bosal has confirmed that the upcoming federal budget for the fiscal year 2025-26 shall be tabled on June 10.

The date for the Annual Plan Coordination Committee (APCC)  has not been announced yet, and the National Economic Council (NEC) meeting date may still be subject to change, said the Finance secretary.

The Adviser to the Finance Minister, Khurram Shehzad, said in a post shared on his X handle that the budget shall be presented on June 10.

“As communicated earlier, the upcoming Federal Budget FY26 is on schedule to be announced on June 10, 2025. Similarly, the upcoming Pakistan Economic Survey FY25 is scheduled to be announced on June 9, 2025.” Shehzad Said.

He also added that virtual talks with the International Monetary Fund (IMF) resume today.

No tax on Solar Panels

Moreover, the federal Board of Revenue (FBR) chairman said that no more additional taxes are on the cards for the solar panels and no need for an increase in the existing ones.

Although tax exemptions in a number of sectors are presently being reviewed, Langrial stressed that the government is careful to support industries like renewable energy and education, which are essential for long-term growth.

The Senate Standing Committee on Finance has already adopted the Income Tax Second Amendment Bill 2025, he added, opening the door for measures that would increase tax collection while reducing the burden on disadvantaged populations.

In keeping with its goal of a more unified tax system, the IMF suggested a day ago that all tax exemptions be eliminated, including those presently given for solar panels.