Mirza Ikhtiar Baig terms budget 2026-27 balanced

ISLAMABAD, (APP - UrduPoint / Pakistan Point News - 14th Jun, 2026) Pakistan Peoples Party Parliamentarians (PPPP) senior leader Mirza Ikhtiar Baig on Sunday termed the Federal budget for 2026-27 a positive and broadly balanced step, welcoming several public welfare measures included in the government’s fiscal plan.

Speaking during the budget debate in the National Assembly, he said that despite challenging economic conditions, ensuring a strong and secure national defence remained the country’s foremost priority.

He praised what he described as exemplary unity and cooperation between the federation and all four provinces on defence-related matters, calling it a positive development in the country’s political history.

The PPPP lawmaker said that the governments and people of Sindh, Punjab, Balochistan, and Khyber Pakhtunkhwa had agreed to contribute billions of rupees voluntarily towards national defence needs and the acquisition of modern technology, stressing that strengthening deterrence was essential in the face of a challenging regional environment.

He congratulated Prime Minister Shehbaz Sharif, President Asif Ali Zardari, and PPP Chairman Bilawal Bhutto Zardari for what he described as a national consensus on the issue.

Turning to economic reforms and public relief measures, Baig urged the federal government to substantially reduce the petroleum development levy (PDL).

<?php /*?> <?php */?>

Citing official figures, he said the government was currently collecting Rs117 per litre in levies on petrol, generating around Rs1.7 trillion annually.

Arguing that the government now had sufficient fiscal space, he called for reducing the petroleum levy to Rs50 per litre to ease the burden on low-income segments, particularly motorcycle and rickshaw users.

The PPPP leader also highlighted challenges facing the business community and the export sector.

He said representatives of the business community had recently met the prime minister and finance minister and identified three major obstacles to exports and foreign direct investment.

These, he said, included a heavy tax burden on businesses, electricity tariffs of 15 to 16 cents per unit that remained uncompetitive compared to regional economies, and commercial lending rates of 12 to 13 per cent despite the policy rate standing at 11.5 per cent.

He expressed hope that the government would seriously consider these concerns and take corrective measures to help Pakistani industries compete more effectively in international markets.