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Next budget to be presented in first week for June: Ministry
The Ministry of Finance has released its calendar for the next fiscal year and announced to present the budget for 2021-22 during the first week of June. The Finance Division will complete all budget documents, schedules and summaries for the cabinet by the end of May 2021. The ministry issued timelines for the budget preparation […]
The Ministry of Finance has released its calendar for the next fiscal year and announced to present the budget for 2021-22 during the first week of June.
The Finance Division will complete all budget documents, schedules and summaries for the cabinet by the end of May 2021. The ministry issued timelines for the budget preparation process under which by March 15, 2021 PAOs would provide revised estimates for current fiscal year and budget estimates for 2021/2022 for federal government receipts. On the same date PAOs will also be required to forward budget proposals relating to tax and non-tax revenues for inclusion in Finance Bill 2021/2022.
The PAOs will also comply March 15, 2021 for submission of current and development expenditure budget estimates. The Finance Division shall finalise development of budget strategy paper by the second week of March 2021. The budget strategy paper shall be submitted to the cabinet by the first week of April 2021.
APCC and NEC may hold a meeting in April 2021. Submission of NO/NIS forms for current budget shall be by April 26 to May 14, 2021. Submission of BO/NIS Forms by ministries / divisions for development budget during May 10–21, 2021.
Last year, the Pakistan Tehreek-e-Insaf (PTI) government had presented a budget with a total outlay of Rs7.13 trillion with the major allocations of Rs25.5 billion for health, Rs83.3 billion for education and Rs1.3 trillion for defence.
