ISLAMABAD
\nThe Pakistan Institute of Development Economics (PIDE) hosted a high-profile seminar titled \u201cBudget 2025\u201326: A Blueprint of the Nation\u2019s Ambition\u201d to unpack the federal budget\u2019s promise, progress, and gaps. The seminar brought together policy experts, economists, and business leaders to evaluate whether the budget aligns with Pakistan\u2019s aspirations for inclusive growth, resilience, and a knowledge-driven economy.
\nApplauding Stabilization, Questioning Vision
\nOpening the discussion, Dr. Mahmood Khalid (PIDE) acknowledged the government\u2019s efforts to stabilize the macroeconomic environment, control deficits, and improve investment confidence amidst global uncertainty. However, he questioned whether the budget represents a transformative vision or remains an accounting exercise. Dr. Khalid stressed that strategic coherence, fiscal credibility, and transparency are essential to convert the macroeconomic stability into sustained development gains.
\nRevenue Strategy Needs Broadening, Not Burdening
\nDr. Ali Salman (PRIME Institute) appreciated the government\u2019s realistic revenue targets but noted that relying heavily on raising existing tax rates burdens low- and middle-income households while discouraging business expansion. He recommended:
\n\u2022 Broad-based tax reforms targeting under-taxed sectors,
\n\u2022 Decentralization of fiscal authority to provinces and local governments,
\n\u2022 Performance-linked budget allocations,
\n\u2022 Simplified and predictable tax policy to reduce compliance burdens.
\nToward a Green, Digital Economy
\nDr. Safdar Sohail (SPRC) highlighted renewed attention to economic recovery but found the budget lacking in policy clarity for green growth and technology integration. He emphasized:
\n\u2022 Modernizing the economy through green and circular economy policies,
\n\u2022 Leveraging AI and digitalization for productivity gains,
\n\u2022 Expanding regional trade to diversify growth,
\n\u2022 Using the budget as a policy delivery tool for climate, competition, and service sector reforms.
\nIMF Conditions: Navigating Constraints with Coordination
\nDr. Hafsa Hina (PIDE) noted that while IMF-backed stabilization has created fiscal discipline, it has constrained long-term development planning. She warned of potential inflation due to global volatility, carbon taxation, and energy price adjustments but remained optimistic if macroeconomic and structural policies are well-coordinated.
\nBusiness Climate Requires Consistency
\nMr. Qazi (ICMA Pakistan) emphasized the need for predictable and consistent policies to encourage private investment. Abrupt measures like e-invoicing, without adequate preparation, add uncertainty and costs. He advocated:
\n\u2022 Linking tax policy with economic growth objectives, not just revenue targets,
\n\u2022 Empowering local governments for service delivery,
\n\u2022 Gender- and wealth-responsive budgeting,
\n\u2022 Strengthening institutional accountability to build trust.
\nCreating a Free, Competitive Market Environment
\nRepresenting the Islamabad Chamber of Commerce and Industry, Mr. Ramzan highlighted that high corporate and sales tax rates, alongside regulatory unpredictability, hinder investment and job creation. He urged:
\n\u2022 Gradual, targeted reforms to expand the tax base through technology,
\n\u2022 Policy stability to reduce the cost of doing business,
\n\u2022 A freer, more competitive environment to foster entrepreneurship and exports.
\nKey Takeaways: From Stability to Sustained Reform
\nThe seminar acknowledged the government\u2019s commitment to macroeconomic stabilization and prudent fiscal management but emphasized that stability is a stepping stone, not the final goal. Pakistan needs to leverage this stability to drive structural reforms and a clear development vision.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD The Pakistan Institute of Development Economics (PIDE) hosted a high-profile seminar titled \u201cBudget 2025\u201326: A Blueprint of the Nation\u2019s Ambition\u201d to unpack the federal budget\u2019s promise, progress, and gaps. The seminar brought together policy experts, economists, and business leaders to evaluate whether the budget aligns with Pakistan\u2019s aspirations for inclusive growth, resilience, and a …<\/p>\n","protected":false},"author":4,"featured_media":82994,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-82984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/82984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=82984"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/82984\/revisions"}],"predecessor-version":[{"id":82995,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/82984\/revisions\/82995"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/82994"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=82984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=82984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=82984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}