Pre-budget conference in Islamabad tomorrow

ISLAMABAD: A pre-budget conference on Business, Agriculture and IT will be held in Islamabad on Tuesday to sensitize the private business sector and incorporate their valuable suggestions.

Prime Minister Shehbaz Sharif will be the chief guest and will address the conference.

The conference will provide an opportunity to renowned businessmen, agriculturists and IT experts to present recommendations on IT, Agriculture, Textile, Business and Export sectors.

The government’s press release stated that “it is the vision of the prime minister of Pakistan to make a progressive, development and people-friendly budget by fostering public participation in budget making.”

It is pertinent to mention here that the federal budget for fiscal year 2022-23 has been in final phase of its preparation. The budget for financial year 2022-23 is expected to be produced in the National Assembly on June 10.

According to sources, a session of the Annual Plan Coordination Committee has been summoned on June 04. A meeting of the National Economic Council (NEC) will be held after the committee’s session.

The NEC session will approve the annual development plan. The government likely to allocate 700 billion rupees for the federal development budget, sources said.

There is a proposal for imposing 1155 billion rupees additional taxes in the next financial year’s federal budget, according to sources.

The budget allocation for defence will likely to be fixed at 1586 billion rupees, sources said.

The budget, after passing from the lower house, will be forwarded to the senate. The cabinet session to approve budget suggestions will also be held on June 10, 2022.