HomeInsidePakistan's Parliament approves Rs 7.022 trillion federal budget

Pakistan’s Parliament approves Rs 7.022 trillion federal budget

Reader's Pick

Pakistan‘s Parliament on June 28 gave its nod to the Rs 7.022 trillion federal budget for fiscal 2019-20, as the ruling party and its coalition partners comfortably defeated the Opposition’s move to block the passage of the Finance Bill.

The budget was presented in the National Assembly, the lower house, on June 11, followed by the heated debate over it that continued for several days.

It focuses on fiscal consolidation, revenue mobilisation, austerity measures, and protection to the vulnerable segments of society.

The Opposition had declared the bill as “anti-people” and announced using all powers to foil the official bid to get the mandatory approval of lawmakers.

- Advertisement -

However, the government mustered enough support in the House to get it passed as the Finance Bill 2019-20.

The treasury benches rejected almost all the amendments to the finance bill moved by the opposition members after there was a discussion on them by both sides, while some amendments moved by Minister for Finance and Revenue Hammad Azhar were adopted.

The government also foiled a bid by the Opposition to block the presentation of the bill for final voting with a 175-146 vote.

The finance bill now needs presidential approval to become effective from July 1 when the country’s new financial year will begin.


Stay on top of Budget 2023 with our newsletter

- Advertisement -

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Read latest Business News and Startup news on TechGraph. Watch live and latest news on TechGraph TV. Follow us on Facebook or follow us on Twitter and Instagram. Listen audio news from TechGraph Briefings on Spotify, Google Podcast, Amazon Music & on Apple Podcast.

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's do...

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($2...

1Win App: Review India Apk for Android and iOS

The company 1Win has been successfully operating in the markets of many countri...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sou...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the firs...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rah...

NASA astronauts to carry first ever all-female spacewalk on 29 March

Two NASA astronauts are scheduled to carry out the first ever all-female spacew...

Logistics 4.0: Creating a value chain through smart interconnected technologies

Businesses are keeping up with the changing digital environment to stay competi...

Budget 2022-23: Technology, SaaS, AI & ML Sector Reactions

Technology market reaction on Budget 2022-23: As Finance Minister Nirmala Sitha...

Bitcoin Price Crash

Bitcoin crypto was launched in 2009. It was the beginning of the digital assets...