Latest news with #KhurramSchehzad
Express Tribune
3 days ago
- Business
- Express Tribune
Budget on track, June 10 confirmed
The government on Thursday insisted that no decision has been made to postpone the federal budget for fiscal year 2025-26, clarifying that the previously announced date of June 10 remains unchanged. The clarification came amid speculations regarding a possible delay due to Eid holidays. "The federal budget will be presented on June 10," Federal Finance Secretary Imdad Ullah Bosal told the media after exiting a committee meeting at the National Assembly. He said the National Economic Council (NEC) meeting date may be revised, while the upcoming fiscal year's budget is being finalised in consultation with the IMF. Moreover, Adviser to the Finance Minister Khurram Schehzad wrote on X that no decision has been made to postpone or reschedule the budget. "As communicated earlier, the upcoming Federal Budget FY26 is on schedule to be announced on June 10, 2025," he wrote. "Similarly, the upcoming Pakistan Economic Survey FY25 is scheduled to be announced on June 9, 2025."
Arab News
4 days ago
- Business
- Arab News
Pakistan projects 3-4% inflation next month ahead of June 10 budget
KARACHI: Pakistan expects inflation to pick up to between 3 percent and 4 percent in June, the Finance Ministry said in its monthly economic report released Thursday, as the country prepares to announce its federal budget for the fiscal year 2025-26 on June 10, a date that falls during the Eid Al-Adha holidays. The ministry said consumer price inflation was projected to ease between 1.5 percent and 2 percent year-on-year in May, following months of steady decline driven by monetary tightening and a drop in food and energy prices. However, it noted that inflationary pressures could resurface slightly next month due to seasonal factors and base effects. 'Improved weather conditions, better crop yields and a stable exchange rate have helped reduce inflation to a historical low,' the report said, adding that 'inflation is projected to remain between 1.5-2.0 percent in May, with a possible rise to 3.0-4.0 percent by June 2025.' The State Bank of Pakistan, in its half-yearly report last month, forecast average inflation for the fiscal year ending June 2025 to remain within 5.5 percent to 7.5 percent, reflecting easing cost pressures across key commodities. Finance Adviser Khurram Schehzad on Thursday confirmed the official timeline for the country's fiscal announcements in a social media post aimed at dispelling speculation about possible delays due to the Eid Al-Adha holidays. 'The dates are firm,' he said on platform X. 'As communicated earlier, the upcoming Federal Budget FY26 is on schedule to be announced on June 10, 2025. Similarly, the upcoming Pakistan Economic Survey FY25 is scheduled to be announced on June 9, 2025.' Pakistan's macroeconomic outlook has improved in recent months, supported by a stronger current account balance, improved remittances and falling inflation. However, authorities remain cautious as they seek to build on recent economic stabilization, steer the country toward gradual growth and reaffirm their commitment to ongoing economic reforms. With input from Reuters
Express Tribune
4 days ago
- Business
- Express Tribune
Budget 2025–26 to be presented on June 10, reaffirms advisor to FM
Listen to article Advisor to the Finance Minister Khurram Schehzad has clarified that budget 2025–26 will be presented on June 10 as scheduled, dismissing media reports suggesting a delay due to Eidul Azha holidays. According to reports from several media outlets, the budget—initially expected to be presented on June 2—was reportedly rescheduled to June 12 because of Eidul Azha holidays, which is to fall on June 7. However, Schehzad reaffirmed via a post on X that no such decision has been made to delay or reschedule the budget. 'As communicated earlier, the upcoming Federal Budget FY26 is on schedule to be announced on June 10, 2025,' he wrote. 'Similarly, the upcoming Pakistan Economic Survey FY25 is scheduled to be announced on June 9, 2025.' As communicated earlier, the upcoming Federal Budget FY26 is on schedule to be announced on June 10, 2025. Similarly, the upcoming Pakistan Economic Survey FY25 is scheduled to be announced on June 9, 2025.@Financegovpk @PakPMO#PakistanBudget #EconomicSurvey #MoF — Khurram Schehzad (@kschehzad) May 29, 2025 Additionally, Finance Secretary Imdadullah Bosal confirmed that the budget will indeed be presented on June 10. Speaking to the media on Thursday, Bosal mentioned that while the date for the Annual Plan Coordination Committee (APCC) meeting has not yet been finalised, and the date of the National Economic Council (NEC) meeting may still change, the budget schedule itself is firm. Read more: Zil Hajj moon not sighted in Pakistan, Eidul Azha to be observed on June 7 The Central Ruet-e-Hilal Committee announced on Tuesday that the Zil Hajj moon was not sighted in the country, and Eidul Azha will therefore be celebrated on June 7. Government usually declares at least three days of public holidays for Eidul Azha, during which Muslims perform religious rituals, including the sacrifice of animals. This year, the third day of Eid will fall on June 9 — the same day the government plans to release the Economic Survey.
Arab News
4 days ago
- Business
- Arab News
Pakistan projects 3-4 percent inflation next month ahead of June 10 budget
KARACHI: Pakistan expects inflation to pick up to between 3 percent and 4 percent in June, the Finance Ministry said in its monthly economic report released Thursday, as the country prepares to announce its federal budget for the fiscal year 2025-26 on June 10, a date that falls during the Eid Al-Adha holidays. The ministry said consumer price inflation was projected to ease between 1.5 percent and 2 percent year-on-year in May, following months of steady decline driven by monetary tightening and a drop in food and energy prices. However, it noted that inflationary pressures could resurface slightly next month due to seasonal factors and base effects. 'Improved weather conditions, better crop yields and a stable exchange rate have helped reduce inflation to a historical low,' the report said, adding that 'inflation is projected to remain between 1.5-2.0 percent in May, with a possible rise to 3.0-4.0 percent by June 2025.' The State Bank of Pakistan, in its half-yearly report last month, forecast average inflation for the fiscal year ending June 2025 to remain within 5.5 percent to 7.5 percent, reflecting easing cost pressures across key commodities. Finance Adviser Khurram Schehzad on Thursday confirmed the official timeline for the country's fiscal announcements in a social media post aimed at dispelling speculation about possible delays due to the Eid Al-Adha holidays. 'The dates are firm,' he said on platform X. 'As communicated earlier, the upcoming Federal Budget FY26 is on schedule to be announced on June 10, 2025. Similarly, the upcoming Pakistan Economic Survey FY25 is scheduled to be announced on June 9, 2025.' Pakistan's macroeconomic outlook has improved in recent months, supported by a stronger current account balance, improved remittances and falling inflation. However, authorities remain cautious as they seek to build on recent economic stabilization, steer the country toward gradual growth and reaffirm their commitment to ongoing economic reforms. With input from Reuters
Business Recorder
4 days ago
- Business
- Business Recorder
Budget 2025-26 to be announced on June 10, finance minister's adviser reaffirms
Pakistan finance minister's adviser reaffirmed on Thursday that the government would present the federal budget for the financial year 2025-26 on June 10, 2025. 'As communicated earlier, the upcoming Federal Budget FY26 is on schedule to be announced on June 10, 2025,' Khurram Schehzad wrote in a post on X. 'Similarly, the upcoming Pakistan Economic Survey FY25 is scheduled to be announced on June 9, 2025,' he added. The development comes after some media reports claimed that the government could further delays the budget presentation due to Eid holidays. Last week, the government extended the budget announcement date to June 10 from previously June 2.
