Govt to present 2018-19 budget in May

ISLAMABAD: The federal government will present the budget for the fiscal year 2018-19 for approval from the National Assembly in May 2018.

Ministry of Finance on Tuesday issued the budget circular of the next fiscal year 2018-19. According to the circular, the budget will be announced in the first week of May, for which it has been intimated to all divisions and ministries that government will present the budget strategy paper to the cabinet in February.

The circular stated that the finance ministry has asked the ministries and divisions to send their development budget estimates till March 14, 2018.

It further mentioned that the priorities committee meeting will be held in the first week of April and the Annual Planning Coordination Committee (APCC) meeting would be held in the mid of April next year.

The meeting of National Economic Council (NEC) would be held in the last week of April, subsequently after the budget will be presented to cabinet for final approval. Finance ministry has asked the ministries to send not only the revised estimates but also the next fiscal year economic indicators targets as well.

The official document mentioned that the ministry also seeks the estimates of three-year (2018-21) mid-development policy in order to give a policy for next government.

It is necessary to mention here that present government will make a record to present the sixth budget in its tenure, which would end on June 5, 2018.  The finance ministry every year issues the budget circular in the mid of December and instructs all ministries to give the budget estimates in due time.

Prime Minister Shahid Khaqan Abbasi currently holds the charge of the finance minister as Ishaq Dar is on a leave owing to his medical treatment in London.