Federal cabinet approves FY2025-26 budget ahead of presentation

(Web Desk): The federal cabinet, in a meeting chaired by Prime Minister Shehbaz Sharif, approved the budget proposals for the new fiscal year.

According to the report, the federal budget for the upcoming fiscal year 2025-26, amounting to approximately over Rs17,600 billion, will be presented this evening in the National Assembly under the chairmanship of Speaker Ayaz Sadiq.

A crucial meeting of the federal cabinet, chaired by Prime Minister Shehbaz Sharif, was held to approve the budget proposals for the new fiscal year.

Federal Minister for Finance Muhammad Aurangzeb briefed the cabinet on the budget during the meeting.

Upon his arrival at Parliament House, the Finance Minister was asked if "fiscal discipline would be maintained after the budget?" To this, Muhammad Aurangzeb replied, "Insha'Allah" (God willing).

According to the report, sources said that the government approved a 6% increase in the salaries of government employees in the upcoming fiscal year's budget.

Sources also indicate that the federal cabinet approved a 7% increase in pensions.