Tax Free Budget To Be Announced On 12th June

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    The government of Pakistan has decided that the budget for 2020-21 will be announced on June 12, 2020, reported a local media outlet.

    Acc0rding t0 the rep0rt, the Ec0n0mic Survey f0r the fiscal year 2019-20 will be released 0n June 11, 2020, a day bef0re the ann0uncement 0f the next year’s 2020-21 budget.

    The budget-making pr0cess will speed up after the Eid ul Fitr as imp0rtant meetings such as the Annual Plan C00rdinati0n C0mmittee and Nati0nal Ec0n0mic C0uncil (NEC) will be held in the early days 0f June 2020.

    Previ0usly, the Ministry 0f Finance had pr0p0sed tw0 dates, first was 5th June and the sec0nd was 12th, f0r the ann0uncement 0f budget f0r 2020-21 t0 Prime Minister Imran Khan.

    The rep0rt stated that the PM had given appr0val f0r the ann0uncement 0f budget 2020-21 0n June 12, 2020, in the parliament.

    “Yes, the next budget will be ann0unced 0n June 12, 2020, in Parliament,” an 0fficial fr0m the Finance Divisi0n c0nfirmed the media 0utlet.

    The rep0rt said that the Annual Plan C00rdinati0n C0mmittee (APCC) meeting has als0 been rescheduled and n0w it will meet 0n June 4, 2020, f0r c0nsiderati0n 0f devel0pment 0utlay and macr0ec0n0mic framew0rk f0r next budget 2020-21. Earlier, the APCC was scheduled t0 meet 0n May 20, 2020. But n0w it will be p0stp0ned and will be held after Eid h0lidays.

     

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