Pakistan Muslim League-N has ruled out the possibility of delaying budget for four months as it vowed to unveil next year’s budget in the second week of June and get it passed from the National Assembly before the start of the new financial year.
Senior leaders of PML-N Sartaj Aziz said that in spite of time constraints the budget for fiscal year 2013-14 can still be presented in between June 10 and 12. He added that after the new cabinet is formed the party’s nominee for the finance minister slot Ishaq Dar will have around two weeks to set his priorities.
Elaborating the party’s plan of action Aziz stated that the expenditure part of the budget was almost already complete while the taxation measures were to be decided over the course of a few weeks. He said the party would not face many problems in presenting the budget on time.
According to political analysts, if desired the president can summon the NA session by May 26 which would assist the PML-N to form the government at the earliest, giving it more time to plan the budget. However, if the president wishes to exploit maximum 21 days limit that the constitution sets to call a session of new assembly, the PML-N will form the government by June 3 or 4.
According to clause 85 of the constitution, the NA shall have powers to make any grant in advance in respect to the estimated expenditures for a part of any financial year, not exceeding four months.
Aziz, who is expected to be Adviser on Economy and Foreign Affairs to the premier, said that the party was not considering any proposal to delay the budget for four months. “Extending the current budget further for four months will mean that the wasteful expenditures will continue,” he said.
For the full report, please see http://tribune.com.pk/story/553242/fiscal-year-2013-14-pml-n-to-present-budget-in-second-week-of-june/
Hope that PML-N federal government will present a balanced budget favoring different sectors. It will set tone for progress of Pakistan under new govt hopefully.
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