Govt decides to introduce mini-budget through ordinance

ISLAMABAD: The ruling Pakistan Tehreek-e-Insaf (PTI) government has decided to introduce a mini-budget through ordinance instated of passing it through Parliament, ARY News reported on Wednesday citing sources.

According to sources within the finance ministry, the International Monetary Fund (IMF) has set a condition to start implementing a mini-budget until January 12, 2022.

The IMF is also stressing on budget’s approval through the parliament, but according to finance ministry authorities, the approval of Rs360bn mini-budget through Parliament will take long time as it is impossible to summon a joint session of Parliament within a short period of time for mini-budget approval.

Thus, the government has decided to convince the IMF once again for the promulgation of a Presidential Ordinance for withdrawal of GST exemptions.

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The IMF had rejected the proposal for promulgation of Presidential Ordinance in the past.

The government will convince IMF to allow the promulgation of the ordinance and to withdraw GST exemptions as part of the next budget through Finance Bill 2022.

The IMF’s Executive Board meeting will take place on January 12, 2022.

Earlier it emerged that Pakistan Tehreek-e-Insaf (PTI) government is likely to present a mini-budget before Parliament in the coming week.