ISLAMABAD – Pakistani government on Tuesday postponed federal budget for the fiscal year 2024-25 due to Prime Minister Shehbaz Sharif’s crucial visit to China.
Reports quoting State Minister for Finance Ali Pervez Malik said the budget FY 2025 will now be presented in the National Assembly on June 12 after Prime Minister’s return from Beijing.
As per the latest update, National Economic Council (NEC) meeting is set for June 10, followed by unveiling of the economic survey on June 11. Earlier, the country’s Finance Minister Aurangzeb was slated to present the budget on June 10, with reports suggesting it will include conditions set by the International Monetary Fund (IMF).
Budget Delayed Again
Prime Minister Shehbaz Sharif’s visit to Shenzhen, China, aims to strengthen bilateral relations and explore new economic cooperation opportunities.
The premier is accompanied by a high-level delegation, including Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, Planning Minister Ahsan Iqbal, Defense Minister Khawaja Asif, Energy Minister Musadik Malik, and Information Minister Attaullah Tarar, along with other officials.
The visit includes stops in Xi’an, Shenzhen, and Beijing, with scheduled meetings with Premier Li Qiang, President Xi Jinping, Zhao Leji, the chairman of the Standing Committee of the National People’s Congress, and other government officials.
Expected increase in salaries, pensions of federal employees from July 2024
