PTI rejects Budget FY2026-27, calls it 'elite-centric and anti-people'

ISLAMABAD: The opposition Pakistan Tehreek-e-Insaf on Friday rejected the federal budget for fiscal year 2026-27, describing it as an “elite-centric” financial plan that would provide little relief to ordinary citizens and struggling businesses.

The criticism came a day after Finance Minister Muhammad Aurangzeb presented the Rs18.8 trillion federal budget in the National Assembly, outlining a growth target of 4 per cent and describing the fiscal plan as being focused on stabilisation, reform and economic growth.

In a statement, PTI Central Information Secretary Sheikh Waqas Akram said the budget was essentially a “refined exercise in elite self-preservation” and failed to address the economic hardships faced by the public.

He questioned the government's portrayal of a projected 3.7pc economic growth rate as a major achievement, arguing that the previous PTI government had recorded significantly higher growth despite navigating the challenges posed by the Covid-19 pandemic.

Akram maintained that the current administration was relying heavily on remittances, external borrowing and other factors that had not translated into tangible improvements in the lives of ordinary Pakistanis.

He also expressed concern over rising poverty levels and increasing economic pressure on low-income households, saying the budget lacked meaningful measures to address the challenges faced by vulnerable segments of society.

Criticising taxation policies, Akram argued that the salaried class remained one of the most heavily taxed sectors of the economy despite limited relief announced in the budget.

According to him, reductions in taxes for higher-income groups and concessions for selected businesses would primarily benefit wealthier segments, while inflation would erode whatever relief was provided to ordinary employees.

The PTI leader also objected to new tax measures affecting traders and small businesses, including the expansion of withholding taxes, digital invoicing requirements and stricter compliance mechanisms.

He alleged that the government was relying on enforcement and audits rather than broadening the tax base and tackling widespread tax evasion.

Akram further accused the government of selectively presenting economic indicators while overlooking previous achievements and downplaying the economic difficulties faced by citizens.

Separately, PTI Chairman Barrister Gohar Ali Khan termed the budget “disappointing”, claiming it would fail to bring any meaningful relief to the public.

Speaking to reporters, Gohar criticised the government's economic performance and accused it of increasing borrowing instead of reducing expenditures.

“The budget should have focused on improving the lives of ordinary people, but it does not reflect that priority,” he said.

The PTI chairman also reiterated concerns over government spending and economic management, arguing that public hardship had continued to increase despite official claims of economic stabilisation.

Commenting on political matters, Gohar said efforts were underway to arrange a meeting with PTI founder Imran Khan, but no positive response had yet been received from the authorities.

The government has defended the FY2026-27 budget as a balanced fiscal framework aimed at maintaining economic stability, meeting reform commitments and creating conditions for sustainable growth under the ongoing programme with the International Monetary Fund.