Finance Minister Senator Muhammad Aurangzeb on Tuesday presented the Finance Bill 2025 in the Senate, in line with Article 73 of the Constitution, inviting recommendations from the upper house on the government’s fiscal roadmap for the upcoming financial year.
The Finance Bill 2025, which details key taxation measures, public spending allocations, investment incentives, and broader economic reforms, was laid before the Senate for review and feedback.
Addressing the session, Minister Aurangzeb urged senators to share their recommendations, which will be forwarded to the National Assembly for further consideration.
Senate Chairman Syed Yousuf Raza Gilani directed members to submit their proposals, including inputs on the annual budget statement, by 5:00 PM on Thursday, June 12. He emphasized that submissions received after the deadline will not be entertained. A formal report will also be compiled and submitted to the relevant standing committee.
According to parliamentary procedure, budget-related proposals in the Finance Bill will be referred to the Senate Standing Committee on Finance and Revenue, while Public Sector Development Programme (PSDP) recommendations will be reviewed by the Standing Committee on Planning, Development and Special Initiatives. Gilani noted that the Planning Committee will send its PSDP-related report to the Finance Committee by June 19, after which final recommendations will be presented to the House.
Separately, Minister Aurangzeb clarified in a media interview that no discussions have been held regarding a petroleum levy in the proposed Budget 2025–26. However, he acknowledged that a carbon levy could be considered to enhance revenue while aligning with environmental priorities. He stressed the importance of improving revenue collection through taxation and enforcement, and questioned the delays in implementing tariff reforms, despite their long-standing necessity.
The Finance Bill 2025 is seen as a crucial step in shaping Pakistan’s economic direction for the next fiscal year.
