Finance minister addresses post-budget press conference

Finance Minister Muhammad Aurangzeb is currently addressing a press conference to provide further details about the proposed budget for FY26-27. On Friday, he presented the financial plan before the National Assembly, announcing a three-year freeze on provincial transfers as the government reallocated resources for security needs and relief measures for the salaried, corporate, real estate and export sectors to revive struggling economic activity. In his third budget — and the fifth of the major coalition partners — the minister has proposed taxes on social media earnings, a fixed tax scheme for small traders and shopkeepers, a higher minimum tax rate for wholesalers and retailers, incentives for small electric vehicles and bikes, and barriers for luxury e-vehicles. More to follow