ISLAMABAD (PEN) : The National Assembly of Pakistan has officially passed the *Rs17.573 trillion federal budget* for the fiscal year 2025–26, introducing a wide range of **income tax exemptions* aimed at supporting educational, welfare, and national development institutions.
Over 100 Institutions Granted Tax Relief
The newly approved *Finance Bill 2025–26* outlines *income tax exemptions* for over *106 organizations* nationwide, including several prominent universities, hospitals, and military-linked welfare entities. These exemptions apply specifically to entities registered as *trusts, foundations, or non-profit organizations*.
Among the notable beneficiaries are:
Educational Institutions:
* Lahore University of Management Sciences (LUMS)
* Ghulam Ishaq Khan Institute (GIKI)
* COMSATS University
* ZABIST University
Healthcare and Welfare Organizations:
* Shaukat Khanum Memorial Trust
* Indus Hospital
* Akhuwat Foundation
* Al-Khidmat Foundation
* Al-Shifa Trust & Al-Shifa Eye Trust
* Businessman Hospital Trust
Military-Affiliated and Government Institutions:
* Fauji Foundation
* Army Welfare Trust
* FBR Foundation
* WAPDA
* Pakistan Agricultural Research Council (PARC)
* Privatization Commission
* Securities and Exchange Commission of Pakistan (SECP)
Development & Relief Funds:
* Supreme Court Dams Fund
* Prime Minister’s Special Funds
* Prime Minister’s Flood Relief Fund
* Karandaaz Pakistan
* Aga Khan Development Network
Legal Bodies:
* Pakistan Bar Council
* All four provincial bar councils
Special Provision for Former Presidents
In addition to institutional exemptions, the bill also includes a specific *tax exemption on pensions for former presidents and their widows*, a move framed as part of broader social welfare measures within the budget.
Budget Approved by Majority Vote
The budget was passed during a session of the National Assembly chaired by *Speaker Sardar Ayaz Sadiq, with a **majority vote* securing the approval of the Finance Bill. The session marks the formal conclusion of parliamentary debate over the proposed fiscal plan for the upcoming year.