Centre begins preparations for budget 2026-27

The federal government has kicked off preparations for budget 2026-27, requesting proposals from the business community by January 30, 2026.

The Ministry of Finance will now lead tax policy formulation, a role previously handled by the FBR, signaling a new approach to economic planning and reforms.

For the first time, the Tax Policy Office under the Ministry of Finance has been given full responsibility for developing tax reforms.

Officials emphasized that tax proposals must be concrete, accompanied by justifications, and include their likely impact on revenue, economic indicators, and specific business sectors.

Business sector invited to submit proposals

All stakeholders, including trade organizations like the Lahore Chamber of Commerce and Industry, are being consulted for the new budget. Proposals can be submitted via email or post using a specially issued form.

Authorities highlighted that priority will be given to proposals offering practical solutions and backed by clear data, rather than general suggestions. The government is also considering measures to reduce the tax burden on industries and promote sectors that drive exports and foreign investment.