Lead
President Asif Ali Zardari has given his assent to the Finance Bill, 2026, which finalizes the federal budget for fiscal year 2026-27 with an outlay of Rs17.5718.8 trillion, according to Dawn. The bill, which was presented in the National Assembly by Finance Minister Muhammad Aurangzeb on June 12, was passed by the House on Tuesday after the opposition staged a walkout. All seven amendments moved by opposition members were rejected by a majority vote, while amendments suggested by the National Assembly Standing Committee on Finance were incorporated into the final bill.
Coverage Comparison
All three reports from Dawn provide consistent coverage of the president's assent and the key budgetary measures. The reports detail the same set of facts, including the budget outlay, the parliamentary process, and the specific amendments made to the bill. There is no disagreement among the sources, as they all present the same narrative and details.
The president's assent was announced via a post on the Presidency’s X account, which Dawn quoted. The reports also note that the bill included amendments suggested by the National Assembly Standing Committee on Finance, reflecting an additional layer of parliamentary scrutiny.
Key Claims
The budget is designed to offer relief to higher-income salaried individuals and businesses by rationalising income tax, sales tax, and customs duties, while promoting documentation, digital compliance, and investment, as reported by Dawn.
One of the notable changes was the abolition of duties on mineral water or hydration drinks. The government removed the proposed 20% Federal Excise Duty (FED) on mineral waters, aerated waters, hydration drinks, or electrolyte beverages with artificial sweetener or sugar content below 5g/100 ml. Previously, all such beverages were subject to 20% FED regardless of sugar content.
The bill also grants a sales tax exemption for local airlines on the import or lease of aircrafts and their parts, effective from July 1, 2027. In the original bill, this exemption was limited to Pakistan International Airlines (PIA), but it was expanded to all airlines operating in the country.
Regarding electric vehicles, the bill amends the duties imposed on imported electric cars and SUVs. No Federal Excise Duty will be applicable on electric cars and SUVs imported in Completely Built-Up (CBU) condition with a value not exceeding $75,000. For vehicles valued between $75,000 and $110,000, a 30% excise duty will apply, while those exceeding $110,000 will face a 40% excise duty.
For imported mobile phones, the Device Identification, Registration and Blocking System (DIRBS) tax will now be payable in instalments, but all instalments must be paid before the end of the financial year in which the import is made.
The bill also includes provisions for businesses: persons with turnover up to Rs200 million may opt out of the fixed tax regime, subject to a final and irrevocable certificate filed with the Tax Commissioner before filing returns for tax year 2027. The minimum rate of value addition tax will be 1% for imported coal that is supplied directly to Independent Power Producers. Additionally, income tax exemptions will apply to private equity and venture capital funds registered under Private Funds Regulations, 2015, provided they distribute at least 90% of their accounting income to unit holders or shareholders. For steel melters, re-rollers, and composite units, the tax will be collected based on per-unit electricity consumed, including electricity from captive power plants or alternative energy sources, at rates prescribed by the Federal Board of Revenue.