Islamabad (Commerce Desk): The federal government has decided not to present the upcoming fiscal budget on June 10, while the announcement of a new date is expected today from the Ministry of Finance.
According to sources, the decision to postpone the budget was taken during a meeting between the President and the Prime Minister, where detailed discussions were held on the budget as well as key economic and political matters.
Government sources said that technical committees will finalize matters related to the transfer of Rs 1,700 billion from the provinces to the federation, and their formation is also expected today.
The meeting of the National Economic Council, which was initially scheduled for today, is now likely to be held on June 10 instead.
Planning Minister Ahsan Iqbal confirmed in informal talks in Parliament that several budget-related matters are still pending and consultations are ongoing.
Sources further said that the meeting at the Presidency was attended by the Prime Minister, the Finance Minister, and other senior federal ministers, where the country’s economic situation, political developments, and the outline of the upcoming budget were discussed.