Govt still undecided about final budget
 

ISLAMABAD: The incumbent regime has not yet formally decided to either announce the budget for next financial year 2018-19 in May or leave it up to the next elected government to present the budget.?Yes, we are in a fix as the prime minister has not yet accorded formal approval regarding the budget?s presentation as there is a provision in the law that the government affairs can be handled for three months more through supplementary budget measures,? Dr Miftah Ismail, Adviser o PM on Finance and Revenue, told The News.
However, he said, the Federal Board of Revenue (FBR) has started getting input from stakeholders for taxation outlook in next fiscal year, but when it comes to the presentation of the budget in first week of May, it requires the approval of the premier.
The sources said the budget explains the economic priorities of the elected government and no one knows which political party will be in power corridors after general elections. In case the existing government presents the budget for 2018-19 and it does not make inroads to the PM House then what will be the fate of the budget, officials posed the question.
Dr Mifta says that after May 31, 2018, the government?s affairs can be handled through supplementary budgetary measures for three months period and at the top level, options are being weighed to either lay down the budget in May or extend it up to the next government to announce the budget as per its manifesto and economic priorities.
Nonetheless, it may not be out of place to mention that on December 18, 2017 a circular was issued by the Finance Ministry heralding that the federal government will present the budget for the fiscal year 2018-19 for approval from the National Assembly in May 2018.
This means that the Finance Ministry is very much on budget preparation on its own. According to the circular issued on December 18, the budget will be announced in the first week of May, for which it has been intimated to all divisions and ministries that the 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. However, keeping in view the volatile political situation in Balochistan apparently to scuttle the smooth Senate elections and expected move from the PAT supported by all political parties against the government seeking justice on Model Town incident and more importantly the anti-Punjab government drive by religious forces headed by Pir Sialvi, the government does not find itself in a position to present the sixth budget, top sources in the Finance Ministry said.

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