President gives approval to federal budget
Zardari signed the bill into law following on the advice of the Prime Minister.
President Asif Ali Zardari acted on the advice of the prime minister to give his assent to the billl. PHOTO: AFP/FILE
ISLAMABAD:
President Asif Ali Zardari on Saturday approved the Federal Finance Bill 2013, Radio Pakistan reported.
Acting on the advice of the prime minister, the president signed his assent to the bill, just over 24 hours before the new fiscal year begins.
The Finance Bill was passed in the National Assembly on Thursday.
With the signing of the bill‚ it has become a law and gives effect to the financial proposals of the federal government for the financial year beginning on the first July 2013.
On Thursday, the National Assembly approved with a majority, the finance bill which also includes the controversial and unpopular decision to increase general sales tax.
The lower house of Parliament session on Thursday also witnessed every single objection of the opposition to the Finance Bill 2013-14 being dismissed.
The total size of the budget which takes effect from July 1 is Rs3.59 trillion, including Rs207 billion in new taxes as the house passed several amendments in the earlier version of the finance bill tabled in the lower house.
President Asif Ali Zardari on Saturday approved the Federal Finance Bill 2013, Radio Pakistan reported.
Acting on the advice of the prime minister, the president signed his assent to the bill, just over 24 hours before the new fiscal year begins.
The Finance Bill was passed in the National Assembly on Thursday.
With the signing of the bill‚ it has become a law and gives effect to the financial proposals of the federal government for the financial year beginning on the first July 2013.
On Thursday, the National Assembly approved with a majority, the finance bill which also includes the controversial and unpopular decision to increase general sales tax.
The lower house of Parliament session on Thursday also witnessed every single objection of the opposition to the Finance Bill 2013-14 being dismissed.
The total size of the budget which takes effect from July 1 is Rs3.59 trillion, including Rs207 billion in new taxes as the house passed several amendments in the earlier version of the finance bill tabled in the lower house.