17 hours ago
- Business
- Business Recorder
National Assembly to meet again on Thursday for budget approval
The National Assembly will reconvene again on Thursday at 11:00 a.m. to give final approval to the federal budget for the fiscal year 2024-25, including the passage of the Finance Bill and supplementary grants, Aaj News reported.
The development comes after lawmakers on Wednesday completed the approval process for the demands for grants of 33 federal ministries and divisions.
During the session, the lower house approved 136 demands amounting to over Rs9.95 trillion. More than 750 cut motions submitted by opposition members were rejected by majority vote.
Among the major approvals, the Division of National Food Security had three demands totalling Rs34.04 billion passed, while 98 related cut motions were turned down.
Cabinet Division: NA approves Rs81.45bn demands for grants
Additionally, four ministries and divisions had demands exceeding Rs4,814 billion approved during Wednesday's session.
On Thursday, the Assembly will proceed with the approval of the Finance Bill 2024-25, which outlines tax measures and fiscal policies for the upcoming year.
Supplementary grants, which cover additional expenditures beyond the initially allocated budget, will be taken up for discussion and approval on Friday.
The passage of the Finance Bill is the final and mandatory step in the federal budget process, enabling the government to implement its financial agenda for the new fiscal year starting July 1.
