Govt likely to summon budget session earlier

The PML-N led federal government has decided in principle to present the next fiscal year's budget prior to Eidul Azha, which is expected to be celebrated on June 7.

According to sources in the Ministry of Finance, the government is likely to summon parliament's budget session a few days earlier in view of Eid.

It may present the next budget between June 3 to June 5. They said the process to pass the money bill will start immediately after the Eid holidays.

They said prior to presenting the budget, the government authorities will hold consultations with the International Monetary Fund (IMF) whose mission is going to arrive in Pakistan on May 14.

They said the government will try to get the nod of the IMF on annual tax revenue targets and development budgets etc.

Minister for Finance Muhammad Aurangzeb is also going to fly to the United States to attend the IMF's and World Bank's annual meetings.

These meetings are scheduled in Washington on April 21 and April 26.