Islamabad, January 28, 2026 – The Federal Finance Ministry has officially released the detailed schedule for the preparation and presentation of the federal budget for the fiscal year 2026-27.
The announcement outlines key activities, deadlines, and responsible offices to ensure timely submission and approval of all budgetary documents.
The budget process will begin with the issuance of the Budget Call Circular in January 2026, followed by the preparation of the Provisional Macroeconomic Framework for FY2026-27. In February, the Mid-Year Review Report will be laid before the National Assembly, alongside the submission of Medium-Term Key Performance Indicators (KPIs) and Performance-Based Budgeting forms. Gender-Responsive and Green Budgeting reports will also be submitted simultaneously by Principal Accounting Officers (PAOs).
By February 20, PAOs are required to submit revised estimates for federal receipts, public accounts, bank investments, current and development expenditure, posts proforma for federal employees, and sector-wise development project details. The Expenditure Wing will provide recommendations on revised and proposed budget estimates by February 27.
The schedule further includes quarter-wise budget estimates, foreign exchange budget submissions in May, Budget Review Committee meetings from March 30 to April 12, and the approval of the Budget Strategy Paper by April 20. Indicative Budget Ceilings and PAO-wise submissions will follow in April and May, concluding with all documents finalized for Cabinet review by the end of May 2026.
The budget preparation steps include proposal submissions by PAOs, review in Demand Review Committee meetings, Cabinet approval of the Budget Strategy Paper, issuance of budget ceilings, and final approval by the Cabinet, National Assembly, and Presidential assent.
This detailed timeline aims to ensure a structured and transparent process for the FY2026-27 federal budget, aligning with the Public Finance Management Act, 2019.