Budget FY27: ICMA VP participates in consultative session

LAHORE: Muhammad Yasin, FCMA, Vice President ICMA and Chairman Research & Publications Committee, represented the Institute of Cost and Management Accountants of Pakistan at the Punjab Pre-Budget Consultative Session for FY 2026–27. The session was presided over by Mujtaba Shuja-ur-Rehman, Finance Minister, Government of Punjab.

The consultative session provided an important platform for professional bodies, policymakers, financial experts, and key stakeholders to share recommendations for the upcoming provincial budget. The discussion focused on fiscal priorities, development planning, public sector reforms, revenue mobilization, agricultural productivity, industrial growth, and effective utilization of public resources.

During the session, Muhammad Yasin emphasized the need for transparent, accountable, and outcome-based budgeting. He stated that budgetary allocations should not merely focus on expenditure but must be linked with measurable results, economic productivity, employment generation, and direct public benefit.

Yasin suggested that subsidies on seeds and pesticides should be digitized and utilized through a proper digital mechanism, in line with the petrol subsidy model already being implemented by the government. He noted that such a system would help ensure transparency, reduce leakages, improve monitoring, and directly benefit all deserving segments. He further stated that the objective should be to deliver the potential benefit to those who truly deserve it, particularly farmers and low-income groups connected with the agriculture sector.

Yasin recommended introducing Public-Private Partnership models in PSDP projects to improve execution capacity, attract private sector investment, and ensure timely completion of development schemes. He stated that PPP-based development can reduce the burden on public finances, improve efficiency, and support timely delivery of infrastructure and public service projects.

Copyright Business Recorder, 2026