Business

National Assembly approves Budget 2026-27

Published by

Abdul khalique

6 minutes ago

ISLAMABAD: The National Assembly has approved the budget for the fiscal year 2026-27, according to media reports.

The budget session of the National Assembly was held under the chairmanship of Speaker Sardar Ayaz Sadiq, where the members approved the budget for 2026-27.

After the budget was approved, the Speaker of the National Assembly adjourned the session of the National Assembly until 11 am tomorrow.

Finance Bill

According to the Finance Bill 2026, from July 1, 86 percent duty will be imposed on imported vehicles between 2,000 and 3,000 cc, while 92 percent duty will be imposed on imported vehicles of 3,001 cc.

Under the Finance Bill, tax will be exempted from July 1 on the Pakistan Navy Benevolent Association and SIUT.

On the other hand, the Provincial Employees Social Security Institutions and the Orangi Town Welfare Institution, Make-A-Wish Foundation, are enjoying tax concessions.

Finance Dept Employees Likely to Receive a one-month Salary Bonus

Moreover, the government is likely to grant a bonus equivalent to one month’s salary to employees of the Finance Department.

According to details, a summary has been prepared to provide financial relief to Finance Department employees. Sources said the Finance Secretary has forwarded the summary to the relevant authorities for approval.

The proposed bonus is intended to support employees and recognize their service. Officials said the move is being viewed as a significant relief measure for the department’s workforce.

Following reports of the proposed bonus, employees expressed satisfaction and welcomed the initiative, describing it as a positive step toward easing financial pressures.

A final decision will be made after the summary receives the necessary approvals from the competent authority.

Abdul khalique