Acting president signs Finance Bill 2023-24

ISLAMABAD: Acting President Sadiq Sanjrani on Monday signed the Finance Bill 2023-2024 to make it come into force from July 1, 2023, ARY News reported.

Following the passage of the finance bill from the parliament, it was sent to the acting President Sadiq Sanjrani, as President Arif Alvi left for Saudi Arabia to perform Hajj on Sunday.

On Sunday morning, the National Assembly passed the Finance Bill 2023-2024, giving the go-ahead to the budgetary proposals for the upcoming financial year.

The bill with a total outlay of Rs14,480 billion was moved by Finance Minister Ishaq Dar in the house.

The House passed the federal budget with the revised targets to appease the International Monetary Fund (IMF) for the revival of the stalled loan programme.

According to the amendments, the target for tax collection has been revised to Rs 9,415 billion from 9,200 billion.

Rupees Rs801 billion have been allocated for the payments of pension against the earlier allocation of Rs761 billion.