ISLAMABAD: The presentation of the federal budget is likely to face further delay and may now be tabled on June 12 instead of the previously expected date of June 10, according to official sources.
Sources said important developments have emerged regarding the preparation of the federal budget for the new financial year, indicating a possible postponement in its presentation timeline.
Officials added that the government has also decided to postpone the scheduled meeting of the National Economic Council (NEC), which was set to take place today. The meeting was expected to approve key proposals related to the country’s annual development budget.
According to government sources, the NEC meeting was to be chaired by Prime Minister Shehbaz Sharif. A new date for the meeting will be announced later.
The council was expected to review the Annual Development Programme (ADP), development priorities of federal ministries and provincial governments, as well as economic growth targets for the upcoming fiscal year.
Sources further revealed that the total proposed development budget for the new financial year stands at Rs 4,715 billion. This includes Rs 1,126 billion allocated for the federal Public Sector Development Programme (PSDP), while Rs 3,138 billion has been proposed for provincial development schemes.
In addition, state-owned enterprises are expected to spend Rs 451 billion on their development projects.
Officials also said an additional Rs 200 billion increase in the PSDP is under consideration, which could raise the total development budget to Rs 1,326 billion if approved by the Prime Minister.
The final decision regarding the budget timeline and allocations will be taken in upcoming high-level meetings.
