F.P. Report
LAHORE: Planning Minister Ahsan Iqbal on Saturday said that Pakistan will raise its defence budget for the upcoming fiscal year 2025-26 keeping in view the recent escalation with India.
Earlier this month, the minister had announced that the federal budget would be presented on June 2, however, Adviser to the Finance Minister Khurram Schehzad said yesterday that the budget would be presented on June 10, while the Pakistan Economic Survey would be released a day earlier.
After attending a meeting at the Institution of Engineers Pakistan (IEP) in Lahore, the planning minister told reporters that the budget had not been delayed due to any pressure from the International Monetary Fund (IMF), but because of Prime Minister Shehbaz Sharif’s upcoming visit to friendly nations and the Eidul Azha holidays.
“We had very good negotiations with the IMF,” Iqbal said. “The main reason behind the delay is the PM’s five-day visit to friendly countries and Eid after that. “We decided to present the budget after Eid so that we can easily convene a meeting of parliament afterwards,” he added.
