Federal budget deferred to first week of June (June 3 or 4)

Category: miscellaneous, News 15 0
Pakistani Budget 2011-12

ISLAMABAD (May 20, 2011) : Federal government, facing problems in preparations of the budget, Friday extended the budget date by one week and postponed the meeting of National Economic Council (NEC).
According to Finance Ministry officials, the federal budget cannot be presented on May 28 owing to the tense relations with US in the wake of Abbottabad operation and negotiations with International Monetary Fund (IMF).
According to Finance Ministry officials, the federal budget would be presented on June 3 or 4, as it will take time to make the budget correspond to the stipulated goals decided with IMF.
According to NEC agenda received by SAMAA, the government’s claim regarding current expenditures during the current fiscal year proved incorrect, as Rs. 391 billion more were spent in excess of the apportioned amount.
The budget deficit will exceed the second highest level of Rs. 900 billion during the current fiscal year in the national history. SAMAA
(Published at Samaa TV Website on May 21, 2011)

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