Pakistan’s Federal Budget for Fiscal Year 2027 has drawn criticism from business leaders who express disappointment over a perceived lack of vision for the manufacturing and export sectors. Representatives from key industries argue the budget lacks concrete measures to boost exports, attract investment, or address longstanding structural issues hindering growth. Concerns center on the absence of policies aimed at reducing the cost of doing business, improving competitiveness, and fostering innovation. The All Pakistan Business Council highlighted the continuation of existing tax burdens and regulatory hurdles as major impediments. Industry stakeholders also lamented the lack of focus on import substitution and value addition, crucial for strengthening the domestic economy. The budget’s failure to address these concerns raises fears of continued stagnation in crucial sectors and a potential slowdown in economic growth. Business leaders are urging the government to reconsider its approach and implement targeted policies to support manufacturing and exports.