Finance Bill 2025 laid before senate for recommendations

ISLAMABAD: Minister for Finance and Revenue Senator Muhammad Aurangzeb on Tuesday laid the Finance Bill 2025 before the Senate, in accordance with Article 73 of the Constitution, seeking recommendations from the upper house.

The Finance Bill, which outlines key fiscal proposals and policy measures for the upcoming financial year, was formally submitted for the Senate’s review and feedback.

Speaking during the session, the finance minister invited senators to present their recommendations on the bill, which will subsequently be forwarded to the National Assembly for consideration.

Chairman Senate Syed Yousuf Raza Gilani called on members to submit their recommendations on the Finance Bill 2025, including the annual budget statement, by 5:00 PM on Thursday, June 12.

No recommendations will be entertained after the deadline. A formal report is also to be submitted to the relevant standing committee.

As per the procedure, budget proposals in the Finance Bill will be referred to the Senate Standing Committee on Finance and Revenue, while recommendations related to the Public Sector Development Programme (PSDP) will be examined by the Standing Committee on Planning, Development and Special Initiatives.

Gilani stated that the Senate Committee on Planning, Development and Special Initiatives will review the PSDP-related recommendations and forward its report to the Finance and Revenue Committee by June 19.

The Finance and Revenue Committee will then submit its final recommendations to the House.

The Finance Bill 2025 carries substantial significance as it sets forth the government’s fiscal roadmap, including proposed changes in taxation, public spending,
investment incentives, and broader economic reforms.

Earlier, Federal Finance Minister Muhammad Aurangzeb clarified that no discussions have taken place regarding a petroleum levy in the proposed Budget 2025–26.

Speaking on ARY News’ program “Khabar”, the minister stated that while revenue could potentially be increased through a carbon levy, the petroleum levy has not yet been considered. He emphasized the need to prioritize taxation and environmental concerns.

“We need to take steps to enhance revenue collection,” he said, adding that last year the government also highlighted enforcement as a means of boosting revenue.

Muhammad Aurangzeb asserted that the figures presented in the Economic Survey are accurate. He questioned why tariff reforms, which should have been implemented earlier, were delayed.