ISLAMABAD
\nLawmakers in the National Assembly on Saturday delivered a detailed and constructive review of the federal budget for FY2025-26 and called for providing more relief to the common man. While participating in the general discussion on Budget 2025-26, Pakistan Peoples Party (PPP) senior leader Mirza Ikhtiar Baig emphasized the pivotal role of the industry, agriculture and services sector in driving long-term economic stability.
\nAcknowledging the ongoing economic challenges, he said the government\u2019s push toward reforms, though modest GDP growth of 2.6% continues to be overshadowed by inflation, population pressure and mounting national debt.
\nHe raised concern over pension reforms, particularly the withdrawal of posthumous benefits for pensioners\u2019 children after 10 years, warning this could create financial distress for many families.
\nThe lawmaker also cautioned against harsh tax enforcement measures, such as granting arrest powers to income tax officers, which he said could dampen business confidence.
\nHowever, he welcomed incentives in the construction and property sectors, including the reduction in withholding tax on property transactions from 4% to 2.5%, elimination of federal excise duty on commercial property transfers and reduction of stamp duty in Islamabad from 4% to 1%\u2014measures expected to boost real estate activity.
\nHe also supported the increased defense budget, recognizing the valor and international standing of Pakistan\u2019s armed forces, particularly in light of recent hostilities.
\nMirza Ikhtiar praised the record-breaking $38 billion in remittances sent by overseas Pakistanis and called for an export-led growth model, especially through sectors like IT and rice.
\nPakistan Tehreek-e-Insaf (PTI) legislator Asad Qaiser urged the government to revisit its decision to impose new taxes in the erstwhile FATA region, emphasizing the area\u2019s sacrifices in the war on terror.
\nAsad Qaiser warned that further burdens could hinder socio-economic rehabilitation.
\nHe also highlighted issues of power outages and damage to household appliances in Khyber Pakhtunkhwa due to erratic electricity supply, urging greater PSDP allocations for the province.
\nAsad Qaiser raised alarms about the tobacco sector, noting the lack of a fixed minimum support price, which is driving companies out of KP. He called for urgent government intervention to protect farmers.
\nSenior MQM leader Dr. Farooq Sattar hailed the armed forces for their resilience during recent Pakistan-India tensions, crediting divine help and national unity under Field Marshal General Asim Munir.
\nHe appreciated relief measures for salaried classes in the budget but warned that the middle class continues to bear a disproportionate tax burden.
\nFarooq Sattar urged reforms to reduce electricity and gas tariffs and proposed a national economic dialogue to adopt a unified \u201cCharter of Economy.\u201d
\nHe stressed the importance of taxing agricultural income through provincial consensus under Article 177 to improve Pakistan\u2019s fiscal credibility with international lenders. Condemning Israeli aggression, he reaffirmed solidarity with Iran amid recent tensions.
\nPPP stalwart Syed Naveed Qamar took a strategic view, asserting that the federal budget must not be limited to a balance sheet but should reflect a coherent economic vision.
\nHe stressed that budgetary allocations must align with policy goals rather than serve as mere political optics.
\nNaveed Qamar criticized the neglect of agriculture, especially in terms of food security and misdirected subsidies that favor foreign producers over domestic farmers.
\nHe lamented that serious economic reformers are often sidelined while superficial narratives dominate policymaking.
\nNaveed Qamar criticized Pakistan\u2019s reliance on international lenders and the failure to promote domestic exports, particularly in the cotton sector.
\nThe fertilizer subsidies and price controls, he argued, have hurt small farmers while benefiting powerful industrial lobbies.
\nNaveed Qamar has called for the adoption of a clear, flexible, and consistent economic policy in anticipation of potential global oil price hikes, warning that the country cannot afford to remain tethered to outdated and reactive financial planning models.
\nHe cautioned that international oil price fluctuations pose direct risks to Pakistan\u2019s fiscal strategy, inflation targets, and energy affordability.
\nHe criticized the government for preparing budgets based on optimistic oil price assumptions without accounting for geopolitical volatility.
\n\u201cIn recent years, our budgets were framed based on declining global oil prices. But if the situation in the Middle East worsens and prices suddenly spike, do we have an alternative strategy in place?\u201d he asked, urging the finance ministry to explain whether price increases would be passed on to consumers or absorbed through subsidies.
\nHe stressed that such vital economic variables demand transparency and contingency planning. \u201cThere must be clarity. If the benchmark price increases by 20%, what is the fallback? Ad hocism will not take us forward.\u201d
\nNaveed Qamar underlined the need for economic policies that transcend partisan agendas and prioritize institutional coherence. \u201cWe hear at the Prime Minister\u2019s level about the need for policy consistency. But if decisions continue to be made in silos, without coordination, instability will persist.\u201d
\nHe also urged serious consultation among political leadership, bureaucratic institutions, and the business community, warning against policy capture by a select few. \u201cIt\u2019s unacceptable that one individual travels abroad and makes decisions on the nation\u2019s behalf, while key institutions remain unaware. Responsible policymaking requires collective ownership.\u201d
\nHe criticized the enduring influence of those who, he alleged, negotiated economically detrimental deals in past decades, leading to chronic dependence on external actors. \u201cThe same people who committed the country 30 years ago are still writing our policies. If we want sovereignty, we must abandon these recurring policy patterns.\u201d
\nHe stressed the need for a forward-looking, sovereign, and inclusive economic framework\u2014one that replaces reaction with resilience. \u201cWe must move beyond fire-fighting. Only with vision, transparency, and consensus can we break the cycle of economic instability.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Lawmakers in the National Assembly on Saturday delivered a detailed and constructive review of the federal budget for FY2025-26 and called for providing more relief to the common man. While participating in the general discussion on Budget 2025-26, Pakistan Peoples Party (PPP) senior leader Mirza Ikhtiar Baig emphasized the pivotal role of the industry, […]<\/p>\n","protected":false},"author":2,"featured_media":484347,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-484340","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-national"},"yoast_head":"\n