Business
NEC to convene tomorrow as govt wraps up budget 2026-27
The National Economic Council (NEC) is slated to hold an important meeting tomorrow at the Prime Minister’s House as the government is close to finishing the federal budget for the fiscal year 2026-27.
Prime Minister Shehbaz Sharif will chair the meeting which would be held at 3 pm and would discuss the approval of the national development budget and identification of major economic priorities for the next fiscal year.
According to the schedule of the meeting, the chief ministers of all four provinces would be participating as members of the council and the discussions would be held on the plans of federal and provincial development spending.
The council will analyse the development budget for the outgoing fiscal year 2025-26 and assess the success on the existing public sector investment initiatives before making allocations for the next financial year.
Provincial governments are also required to prepare their Annual Development Programmes (ADPs). The council will discuss ideas related to federal and provincial development expenditures and approve significant economic targets for 2026-27.
Besides deliberations on the Public Sector Development Programme (PSDP), and other public sector investment goals, the participants will be briefed about the major social and economic indicators in detail by provinces.
The meeting agenda will also feature a presentation of the performance report of the Central Development Working Party (CDWP) for the period from 1st April, 2025 to 31st March, 2026.
The assessment will also include reports relating to the approvals by the CDWP and the Executive Committee of the National Economic Council (ECNEC) for different development initiatives over the same period.
Participants are also scheduled to be presented monitoring and assessment reports regarding important development initiatives in the country.
The conference will begin with a full presentation by the Federal Minister for Planning on development priorities, investment plans and allocations for the next financial year.
The NEC conference is seen as an important precursor to the formal announcement of the federal budget with policy makers trying to balance the demands of the fiscal limits with those of the development needs and economic growth goals.
Business
Sarah Khan supports her spouse Falak Shabir’s dress code opinion
Singer Falak Shabir’s wife and actor Sarah Khan shared her views on what feminism meant to her and also backed her husband’s comments on the dressing of women on social media.
Khan’s comments, however, elicited a mixed response online. “Make a law against those who wear short dresses in public places, bazaars and streets.” This statement put TikTokker Shabir in an internet controversy after he asked Punjab Chief Minister Maryam Nawaz to do so.
In reaction to the backlash, Khan defended her husband with a number of Instagram stories, saying his words were not just aimed at women, but both genders.
She also accused some women in Pakistan of propagating a twisted form of feminism.
“Values, dignity, respect and responsibility are the pillars of a healthy society. Khan wrote: “Behaviour that undermines these principles is affecting not just one group but everyone – and it has been normalised and celebrated.
Business
Flour prices were increased by private mills.
on Sunday, private enterprises’ flour has doubled in price despite the government setting the price of wheat and the crushing season.
A five-kilogram bag of flour is being sold for Rs. 900 to Rs. 1000, while private enterprises have set the price of flour per kilogram at Rs. 180 to Rs. 200.
Flour from various private enterprises is offered for between Rs. 7200 and Rs. 8000 per 40 kg.
In the open market in Lahore, wheat can fetch up to Rs 4000 every 40 kg.
Flour is being sold by private businesses for twice as much as wheat.
Effective measures to stop excessive profiteering in flour sales were required by the public.
Business
The government gathers Rs1,430 billion in petroleum tax over 11 months of the ongoing fiscal year.
Pakistan has already exceeded its annual revenue target from the Petroleum Development Levy (PDL), collecting more than Rs1.43 trillion during the first eleven months of the current fiscal year, from July to May.
According to official data, the government is now on track to collect even more before the fiscal year ends, with estimates suggesting that an additional Rs100 billion could be generated in June. This would push total collections well beyond the original target of Rs1.468 trillion.
The sharp rise in revenue has been particularly noticeable in recent months. Over the last three months alone, the government collected around Rs373 billion from petroleum products, largely due to higher levy rates and stricter enforcement measures.
Monthly collections fluctuated throughout the year, starting at Rs157 billion in July. Revenues then stood at Rs103.46 billion in August, Rs112.85 billion in September, Rs143.48 billion in October, Rs148.36 billion in November, and Rs162.46 billion in December. Collections reached Rs108.76 billion in January, Rs120.39 billion in February, and Rs139.48 billion in March, before rising to about Rs146 billion in April. May contributed another Rs87.5 billion.
A closer look at the figures shows that Rs686.52 billion came from imported petroleum products, while Rs753.54 billion was generated from locally refined crude oil.
Officials say the stronger-than-expected performance was driven by higher levy rates introduced under the Finance Bill, in line with commitments made to the International Monetary Fund (IMF). At the same time, the government intensified efforts to curb fuel smuggling and improve tax compliance.
Authorities believe these enforcement measures have played a major role in boosting revenue. Customs Enforcement’s crackdown on illegal fuel trade helped shift sales into the formal market, increasing both recorded fuel consumption and tax collection. Meanwhile, the Federal Board of Revenue (FBR) identified 1,576 illegal fuel stations across the country and shut down 1,442 of them, further strengthening government revenues.
The figures highlight how a combination of higher levy rates and stricter enforcement has enabled the government to not only meet but exceed one of its key fiscal targets well before the end of the financial year.
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