Budget lacks medium-term brain, power relief, tax equity: Experts
KU AERC seminar says Budget 2026-27 focuses on numbers, not on export competitiveness, tax equity, or long-term planning IV Report KARACHI: The University of Karachi’s Applied Economics Research Centre (AERC) concluded that Budget 2026-27 is missing key structural links to growth, energy affordability, and tax reform, during its Budget Insight 2026-27 seminar held Monday. Speakers said the budget reads as an annual accounts statement, without the medium-term policy backbone needed to address Pakistan’s core economic constraints. Former State Bank of Pakistan Governor Dr Ishrat Husain said a budget must operate within a medium-term policy framework, not as merely an account of income and expenditure. Citing the 2010-11 NFC Award, he noted it had set a target to raise the tax-to-GDP ratio to 15% within five years. Fifteen years later, it remains around 11 percent, he said, adding that setting targets alone is insufficient without practical measures and continuous monitoring. ...