Islamabad (Lord Media): Pakistan’s defense industry has become a significant source of foreign exchange, announced Finance Minister Muhammad Aurangzeb while presenting the 2026-27 budget in the National Assembly. He stated that several countries are in talks to include Pakistan’s fighter jets in their air forces.
The finance minister highlighted that Pakistan has gained global recognition, and its voice is now heard internationally, thanks to a robust defense policy. He also mentioned the Pakistan-Saudi defense agreement, which has strengthened the relations between the two countries.
During the budget speech, the finance minister announced a fixed tax scheme for small shopkeepers, under which traders with an annual turnover of 200 million U.S. dollars or less will pay a one percent tax. Under this scheme, traders will be exempt from audits.
A proposal for a 7 percent increase in salaries and pensions was made, along with a 10 percent increase in the minimum monthly wage. The finance minister also announced various tax reliefs for salaried individuals.
