ISLAMABAD (Kashmir English): A special meeting of the federal cabinet, chaired by Prime Minister Shehbaz Sharif, will be held today in which the federal budget and finance bill for the financial year 2026-27 will be approved.
According to media reports, the federal cabinet meeting will be held at 2 pm, in which Federal Finance Minister Muhammad Aurangzeb will brief the cabinet on the key points of the budget 2026-27.
The meeting will consider the proposed tax measures, revenue targets, and various financial proposals for the next financial year.
Reports say that various proposals related to the increase in salaries and pensions of government employees will also be presented before the cabinet.
Various proposals for an increase in salaries and pensions of 5, 7, 10, and 15 percent are under consideration, while the final decision will be taken by the federal cabinet.
Recommendations related to salaries, pensions, and taxes will be presented by the Ministry of Finance in the meeting.
Moreover, the proposal to provide income tax relief to the salaried class will also be considered, while a proposal to reduce the maximum income tax rate from 35 percent to 30 percent is also under consideration.
The meeting is also expected to approve the proposed tax measures for the new fiscal year and changes in various tax rates.
According to reports, the measures related to tax relief and other financial proposals will be approved by the federal cabinet.
The reports further said that after the approval of the federal cabinet, Federal Finance Minister Muhammad Aurangzeb will present the federal budget for the fiscal year 2026-27 in the National Assembly.
