ISLAMABAD: The National Economic Council (NEC) meeting scheduled for Wednesday under the chairmanship of Prime Minister Shehbaz Sharif has been postponed, sources said, amid indications that the date for the presentation of the federal budget may also be revised.
Budget Date Under Review
According to sources, the federal budget is unlikely to be presented on June 5 as previously expected. A final decision on the budget date has yet to be made, with June 8 and June 12 currently under consideration. The development suggests the government is seeking additional time for final consultations ahead of the crucial fiscal announcement.
NEC Meeting Agenda
The NEC meeting was expected to review and approve federal and provincial development programmes for the upcoming fiscal year and finalise key spending priorities ahead of the budget announcement. Sources said the council was set to consider a combined federal and provincial development outlay of Rs4.715 trillion for fiscal year 2026-27.
PSDP Allocation Expected to Rise
The federal Public Sector Development Programme (PSDP) was also expected to be increased by Rs200 billion, raising the proposed allocation from Rs1.126 trillion to around Rs1.326 trillion. The meeting was expected to be attended by the chief ministers of all four provinces, provincial finance ministers and the prime minister of Azad Jammu and Kashmir.
No Official Reason Yet
No official reason has yet been provided for the postponement of the NEC meeting, and a new date has not been announced. The delay comes as the government continues consultations on the upcoming budget and development spending plans for the next fiscal year.
Budget Significance
The federal budget for fiscal year 2026-27 is expected to outline the government’s revenue and expenditure strategies, including tax proposals, development spending, and fiscal deficit targets. It will also reflect commitments made under the ongoing IMF programme, including revenue generation measures and subsidy rationalisation. The budget is traditionally presented in Parliament by the Finance Minister, followed by a general debate and approval process. The revised date, once finalised, will be announced by the Ministry of Finance. Political and economic stakeholders are closely watching the budget timeline, as delays could impact parliamentary scheduling and the start of the new fiscal year on July 1. The government has not yet commented on the postponement or the revised budget date.
