Budget set for June 10 despite Eid holiday overlap

By Staff Reporter

ISLAMABAD: The federal budget for the fiscal year 2025-26 will stick to its June 10 unveiling, shrugging off speculation of a delay tied to the Eidul Azha holidays, a top finance official said on Thursday.

The announcement quashes media chatter about a potential rescheduling, offering a dose of certainty for an economy wrestling with fiscal strain and IMF talks.

“As communicated earlier, the upcoming Federal Budget FY26 is on schedule to be announced on June 10, 2025,” adviser to the Finance Minister Khurram Schehzad stamped out the rumors on X.

He added that the Pakistan Economic Survey, a key pre-budget report, remains on track for June 9. “No decision has been made to postpone or reschedule the budget,” Schehzad emphasized,

Finance Secretary Imdadullah Bosal also told reporters after a National Assembly committee meeting that the budget will be presented on June 10.

The firm stance comes despite a calendar clash: the Space and Upper Atmosphere Research Commission (Suparco) predicts Eidul Azha will kick off June 7, putting the survey’s release on the third day of the holiday.

The firm stance comes despite a calendar clash. The Space and Upper Atmosphere Research Commission (Suparco) predicts Eidul Azha will fall on June 7, putting the survey’s release on the third day of the holiday.

The budget’s timing matters. Pakistan’s economy is under a microscope as it negotiates with the International Monetary Fund for budget details to shore up reserves and growth.

Last year, Finance Minister Muhammad Aurangzeb, a former JPMorgan Chase & Co. banker, rolled out a Rs18.9 trillion budget, his first, that analysts pegged as “broadly in line with IMF guidelines.”

This time around, the fiscal blueprint is taking a leaner turn. Planning Minister Ahsan Iqbal earlier pegged the development allocation at Rs921 billion, a 16% haircut from last year, signalling the likely axing of about 200 ongoing projects. He and Aurangzeb both hinted at an increase in the country’s defence budget.

Last year, Finance Minister Muhammad Aurangzeb presented his first federal budget with a total outlay of Rs18.9 trillion, which analysts said was broadly “in line with IMF guidelines”.

Aurangzeb, during the budget presentation, said that the goal was to widen the tax base to avoid burdening existing taxpayers.