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WASHINGTON: Pakistan needs to improve transparency in its public finances and give Parliament and citizens earlier access to key budget and debt information, according to a new US State Department assessment. The department’s 2026 Fiscal Transparency Report said Pakistan had made progress in making financial information publicly available but still faced important gaps, particularly in the timely release of its proposed budget and disclosure of government liabilities. The report noted that Pakistan’s approved budget and year-end financial reports were easily accessible to the public, including online. However, it found that the government did not release its executive budget proposal within a reasonable timeframe. According to the assessment, publishing the proposed budget earlier would give lawmakers and the public more time to examine the government’s spending and revenue priorities before the document is formally approved. The report also raised concerns over limited public information about government debt, especially liabilities linked to major state-owned enterprises. Greater disclosure, it said, would help provide a clearer picture of the country’s financial position and allow Parliament to better assess potential fiscal risks. Despite these shortcomings, the US assessment acknowledged that Pakistan’s publicly available budget documents contained substantial information on planned government revenues and expenditures, including income from natural resources. Pakistan’s auditing system also received a largely positive assessment. The report said financial information was generally reliable and subject to review by the country’s supreme audit institution, which it found to have an appropriate level of independence under international standards. Audit findings were also made available to the public within a reasonable period. The report found that Pakistan had established legal procedures for awarding natural resource extraction contracts and licences and appeared to follow those rules in practice. It also noted that information on public procurement contracts was accessible and described the legal framework governing the country’s sovereign wealth fund as sound. The State Department identified three major areas where Pakistan could further strengthen fiscal transparency: releasing the executive budget proposal on time, providing more detailed information about government debt, including state-owned enterprise liabilities, and bringing military and intelligence budgets under adequate parliamentary or civilian oversight. Overall, the report did not portray Pakistan’s financial system as broadly opaque. Instead, it recognised several areas of progress while calling for stronger parliamentary scrutiny and greater disclosure of information that could help lawmakers and the public understand the country’s fiscal risks.

  Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari has said that Pakistan has completed 79 years of independence and that the country will celebrate the centenary of its independence 21 years from now, in 2047. In a video message issued on the occasion of Independence Day, Bilawal Bhutto Zardari reflected on the meaning of Pakistan’s independence and emphasized that freedom was not simply about acquiring a separate territory. According to him, the creation of Pakistan represented a broader promise of rights and dignity for its people. Bilawal said that independence should be understood as more than the establishment of a geographical homeland. He described it as a commitment made to the people of Pakistan and to the regions and states that chose to become part of the country at the time of its creation. He said that this commitment was subsequently incorporated into Pakistan’s Constitution and has continued to be reaffirmed over the years. According to Bilawal, the constitutional promise represents an important responsibility for successive generations and should not remain limited to political speeches or written documents. The PPP chairman stressed that the younger generation has an important role to play in fulfilling this promise. He said it is the responsibility of the present generation to ensure that the constitutional guarantees and principles associated with Pakistan’s founding vision reach every household by 2047, when the country will mark 100 years of independence. Bilawal’s remarks came as Pakistan celebrated its 79th Independence Day with nationwide ceremonies, flag-hoisting events and public celebrations. The day is observed every year on August 14 to commemorate Pakistan’s independence from British rule in 1947. In his message, Bilawal focused on the relationship between independence, constitutional rights and the responsibilities of citizens. He suggested that the true meaning of freedom lies not only in national sovereignty but also in ensuring that citizens are able to enjoy their fundamental rights. He further emphasized the importance of remembering the commitments associated with the creation of Pakistan while looking toward the country’s future. As Pakistan approaches its centenary in 2047, he called for collective efforts to translate constitutional principles into meaningful improvements in the lives of ordinary citizens. According to Bilawal, fulfilling the promise of Pakistan is a responsibility shared by every generation. He said the country’s future depends on ensuring that the principles of rights and justice are reflected in the everyday lives of people across the country. The PPP chairman also extended his greetings to the nation on Independence Day and expressed his hopes for Pakistan’s continued progress and prosperity. Concluding his message, Bilawal Bhutto Zardari reaffirmed his commitment to Pakistan and expressed the slogan “Pakistan Khappay, Pakistan Paindabad,” conveying a message of support for the country’s unity, stability and lasting prosperity. His Independence Day message centered on the idea that Pakistan’s journey should be viewed not only through the achievement of independence but also through the fulfillment of the rights and aspirations that accompanied the country’s creation. With 2047 approaching as the centenary year of Pakistan’s independence, Bilawal called on the current generation to work toward realizing the constitutional promise for every citizen and household. His message highlighted the importance of connecting the ideals associated with independence to the everyday realities of the Pakistani people.