Prime Minister Shehbaz Sharif has constituted a seven-member committee to conduct a comprehensive review of key matters related to the 2026-27 federal budget.
Preparations for the 2026-27 budget are under way and, in this regard, the committee includes ministers for finance, economic affairs, planning and development, law, along with other senior officials.
According to details, the Prime Minister’s Office has also finalised the committee’s terms of reference. Federal Law Minister and Chief Technical Adviser Musharraf Rasool have been appointed as representatives, while the Additional Secretary Budget at the Ministry of Finance will also serve on the committee.
The committee has been directed to review major budgetary matters in detail and submit recommendations to the prime minister. The financial requirements of the ministries of commerce, power, privatisation and other departments will also be examined. Determination of the Public Sector Development Programme (PSDP) for the fiscal year 2026-27 has likewise been included in the terms of reference.
The committee will also consider the return of Rs72 billion in windfall profits linked to oil marketing companies. A detailed review of international cases and financial obligations concerning the Power Division has also been approved.
Sources said revenue-generating ministries have been instructed to retain a portion of their income for development expenditure. The review will also cover support for start-ups under the Green Initiative Programme through Climate Support Levy funds.
Reports on the implementation of cabinet rightsizing decisions and proposals aimed at reducing expenditure have also been sought.
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