The National Assembly on Tuesday approved the Finance Bill 2026 for the fiscal year 2026-27. The bill was passed after the government gained support from its coalition partners.
The session saw strong protests from opposition lawmakers. Despite the noise and objections, the government managed to pass the bill with several amendments.
Finance Minister Muhammad Aurangzeb presented the bill in the House. He also introduced government-backed changes to the finance bill. All of those amendments were approved by the National Assembly.
However, the amendments proposed by opposition members were rejected during the voting process.
After the bill was passed, the National Assembly session was adjourned until 11am on Wednesday.
Earlier this month, the government had announced the federal budget for the next fiscal year. The total budget size is Rs. 18.77 trillion for 2026-27.
The budget includes relief measures for salaried individuals. It also offers tax benefits for exporters and the real estate sector. The construction industry will also get incentives under the new plan.
Officials said the purpose of these steps is to support economic growth. The government hopes to boost investment and improve industrial activity.
The budget also aims to increase the country’s economic growth rate to 4 percent.
At the same time, the government is facing financial challenges. Reports show that the outgoing fiscal year may end with a revenue shortfall of around Rs. 1 trillion.
Despite this, the government has set a new tax collection target of Rs. 15.264 trillion for FY27.
This target is much higher than the revised estimate of Rs. 12.983 trillion for the current year. It shows an increase of 17.6 percent in tax collection.
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The approval of the Finance Bill marks an important step for the government as it prepares to implement its economic plans for the coming fiscal year.
