Pakistan’s annual budget has traditionally been more of a routine fiscal exercise conducted every year, covering only one year, voted every year, and executed over one year, rather than a fully strategic, long-term development plan focused on sustained growth in economic and social sectors with focus on poverty reduction and being independent of IMF crutches.

There were days when the Planning Commission of Pakistan was a mighty supervisory body preparing a well-researched five-year ‘Development Plan with Vision’ on government’s commitment to education, health, infrastructure, job creation and above all poverty reduction. The annual budget in those times consistently aligned itself with the country’s vision and government’s commitment to public well-being.

In recent times, however, the annual budget rarely aligns itself with those strategic visions. Investment in education, health, poverty reduction, infrastructure, and job creation falls short, especially under IMF-mandated austerity.

The budget 2025-26 is no different from the past routine except that the incumbent Finance Minister, Muhammad Aurangzeb, in his second Budget presentation, has brought around professionalism and discipline in the otherwise chaotic fiscal and economic dynamics of the country. With political expediency, along with persistent IMF dictates, ruling the roost, this is the best the Finance Minister could have achieved.

To expect something profound coming out the budget demands drastic actions on ground like........

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