ISLAMABAD: Finance Minister Muhammad Aurangzeb is unveiling the federal budget for fiscal year 2025-26 in the National Assembly today. 

The budget session is being held under the chairmanship of NA Speaker Ayaz Sadiq.

Aurangzeb said he was honored to present a second budget for the incumbent government. He thanked Prime Minister Shehbaz Sharif, Bilawal Bhutto-Zardari, Khalid Maqbool Siddiqui and others for their support in the budget.

Speaking on the NA floor, the finance minister said the federal budget being presented at an “extremely important and historic moment,” while praising national unity during recent tensions with India.

“This budget comes at a pivotal time for our nation’s future,” he said, commending the country’s military and political leadership for their “successful handling of recent war-like situation” with India.

“The entire nation demonstrated remarkable unity during the recent Pakistan-India conflict,” Aurangzeb said, extending congratulations to both military and civilian leadership for their “victorious response.”

He noted that Pakistan’s prestige has risen in the international community, while emphasizing the government’s renewed focus on economic development through national unity and determination.

The minister highlighted that economic stability has been achieved through structural reforms, noting, “several measures have been implemented to improve the economy.” He credited recent policy actions for bringing “economic stabilization through reform measures”.

Referring to the recent economic situation, Aurangzeb noted that inflation has come down significantly, while remittances were $36 billion in 10 months.

Recalling the achievements under PM Shehbaz-led government, the finance minister highlighted reforms in the Federal Board of Revenue (FBR), saying that Pakistan’s tax-to-GDP ratio was only 10%. “It was imperative to increase the ratio to 14%.”

This is a developing story and is being updated with further details.