Lower house passes Finance Bill amid strong opposition from Imran Khan-founded PTI
\n ISLAMABAD
\nThe National Assembly on Thursday approved the federal budget for the fiscal year 2025-26, with certain amendments to the Finance Bill, despite strong protests from the opposition.
\nThe budget, for the FY 2025-26, with a total outlay of Rs17.57 trillion was unveiled by the federal government two weeks ago.
\nFinance Minister Muhammad Aurangzeb presented the finance bill in the lower house, where it received backing from the ruling coalition, including the Pakistan Peoples Party (PPP).
\nThe finance bill was approved by a majority vote following a clause-by-clause reading and the adoption of amendments through the voting process.
\nDuring the proceedings, all amendments proposed by opposition lawmakers were rejected.
\nFor the first time in the country\u2019s history, the National Assembly\u2019s Standing Committee on Finance has made changes to the revised Finance Bill during the parliamentary process.
\nThe revised Finance Bill 2025-26 introduces a threshold of Rs7 million for vehicle purchases. If the invoice value for a locally manufactured vehicle or import value as assessed by the Customs Authority inclusive of all applicable taxes, duties, levies and charges exceeds this amount, the buyer will be declared as an \u201cineligible person\u201d. These individuals will be required to show their financial standing by presenting their last filed tax returns when applying for booking, purchase, or registration of the vehicle.
\nRegarding an application for registering, recording or attesting transfer of any immovable property, there shall be a threshold exceeding Rs100 million as defined by fair market value.
\nIn relation to investment in securities, debt securities, units of mutual funds or money market instruments subject to the condition that investment amounts up to Rs50 million shall be new investment in any financial year excluding reinvestment either by liquidation of similar type of securities and or reinvestment of returns earned on already held securities, threshold limit shall be exceeding Rs50 million.
\nMeanwhile, Prime Minister Shehbaz Sharif lauded the entire economic team, particularly Finance Minister Muhammad Aurangzeb, for their hard work and dedication in preparing the federal budget. He also expressed gratitude to the federal cabinet and the allied political parties for their support in finalising the budget.
\nEarlier in the day, the federal cabinet, in a meeting chaired by PM Shehbaz, approved the Finance Bill 2025 with amendments before it was presented in the National Assembly for voting.
\nIn a separate decision, the cabinet decided to form a committee to address a specific agenda item related to gas policy. The committee will present its recommendations to the Supreme Court (SC) as part of ongoing legal proceedings.
\nSpeaking in the National Assembly during a budget session on Thursday, Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari welcomed the federal government\u2019s decision to include key proposals in the budget put forward by his party.
\nThe former foreign minister praised the incumbent government for increasing the Benazir Income Support Programme (BISP) by a record 20%, calling it a \u201ccommendable step\u201d and a clear reflection of the government\u2019s commitment to social protection.<\/p>\n","protected":false},"excerpt":{"rendered":"
Lower house passes Finance Bill amid strong opposition from Imran Khan-founded PTI ISLAMABAD The National Assembly on Thursday approved the federal budget for the fiscal year 2025-26, with certain amendments to the Finance Bill, despite strong protests from the opposition. The budget, for the FY 2025-26, with a total outlay of Rs17.57 trillion was unveiled […]<\/p>\n","protected":false},"author":2,"featured_media":486718,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-486697","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-news"],"yoast_head":"\n