Page 7 - CMA Journal (May-June 2025)
P. 7

EXCLUSIVE INTERVIEW
             Exclusive Interview

























              “
                       The Federal Budget FY26 is
              centered around accelerating

              structural reforms, stabilizing

              macroeconomic indicators, and
              reshaping fiscal governance. The

              government has prioritized inclusive
              economic transformation through

              targeted allocations to high-impact                Mr. Khurram Schehzad
              sectors—agriculture, SMEs, youth                   Advisor to Finance Minister

              and women-led enterprises, EVs,                       Government of Pakistan

              and affordable housing        “





             ICMA:  What are the key priorities of the 2025–26   leadership of Finance Minister, Senator Muhammad
             Federal budget, and how do you see them addressing   Aurangzeb, the budget marks a shift from incremental
             Pakistan’s current economic challenges such as high   policy to bold, reform-driven governance.
             inflation, low growth, and fiscal stress?
                                                               ICMA: With the FBR’s tax collection target set at Rs.
             Khurram Schehzad:  The Federal Budget FY26 is     14.13 trillion, what concrete steps are being taken to
             centered around accelerating structural reforms,   ensure this target is realistic and does not
             stabilizing macroeconomic indicators, and reshaping   overburden the economy?
             fiscal governance.  The government has prioritized
                                                               Khurram Schehzad:  The FBR’s FY26 revenue target,
             inclusive economic transformation through targeted   requiring 22% growth (vs. 26% already achieved in FY25
             allocations to high-impact sectors—agriculture, SMEs,
                                                               despite very low inflation), is rooted more in ongoing
             youth and women-led enterprises, EVs, and affordable   enforcement, not new taxes. Digitalization of real-time
             housing. A hallmark of this year’s budget is the historic
                                                               invoicing, POS monitoring, track and trace, and
             tariff rationalization to promote industrial recovery and   withholding integration are deepening compliance
             job creation. Rather than austerity, the approach is smart
                                                               without burdening honest taxpayers.
             reprioritization: supporting the vulnerable, revitalizing
             key sectors, and maintaining inflation control. Under the


                                                           ICMA’s Chartered Management Accountant, May-June 2025  5
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