ISLAMABAD: The opposition Pakistan Tehreek-e-Insaf (PTI) on Friday categorically rejected the federal budget for the fiscal year 2026-27, calling it a vehicle for elite self-preservation that offered little relief to ordinary citizens.
Sheikh Waqas Akram, PTI spokesman, criticised the budget, contending that it prioritised connected interests over the broader population.
“This is a particularly refined exercise in elite self-preservation,” he said, adding that the government’s projected 3.7 percent economic growth was being presented as evidence of a resurgence, despite the previous administration achieving near 6 percent growth under pandemic conditions.
Akram said poverty had sharply increased, pushing millions below the subsistence line, while the salaried class faced diminishing real incomes.
He noted that budget measures, such as reductions for higher income brackets, super tax adjustments for businesses, and construction-related tax changes, primarily benefited wealthier segments rather than addressing housing or everyday economic needs.
Inflation is projected at 8.2 percent in the coming year.
The PTI leader also warned that small businesses and traders would face stricter enforcement under a new fixed tax regime, expanded withholding tax on unregistered purchases, and increased penalties for non-compliance.
“This approach relies on harassment of already compliant taxpayers rather than broadening the tax base,” he said.
Akram criticised the government’s handling of debt and privatisation, highlighting that debt servicing now accounts for Rs8,054 billion out of total expenditure of Rs18,771 billion.
He described the planned privatisation of Pakistan International Airlines (PIA), distribution companies and other state assets as favouring connected interests rather than the public.
External financing, including Panda Bonds and Eurobonds, was framed by the government as a confidence signal but, according to PTI, deepens long-term dependence on foreign capital.
He said that the National Assembly proceedings were marked by sustained opposition protests, with lawmakers striking desks in rejection of the budget.
PTI said the response reflected widespread public dissatisfaction with a budget that, in its view, prioritised elites while ordinary citizens face worsening economic conditions.
“The budget is an exercise in deception and privilege protection,” Akram said, reaffirming the party’s commitment to an economic agenda focused on the security and dignity of the majority.
Copyright Business Recorder, 2026
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