The government of Pakistan has decided that the budget for 2020-21 will be announced on June 12, 2020, reported a local media outlet.
According to the report, the Economic Survey for the fiscal year 2019-20 will be released on June 11, 2020, a day before the announcement of the next year’s 2020-21 budget.
The budget-making process will speed up after the Eid ul Fitr as important meetings such as the Annual Plan Coordination Committee and National Economic Council (NEC) will be held in the early days of June 2020.
Previously, the Ministry of Finance had proposed two dates, first was 5th June and the second was 12th, for the announcement of budget for 2020-21 to Prime Minister Imran Khan.
The report stated that the PM had given approval for the announcement of budget 2020-21 on June 12, 2020, in the parliament.
“Yes, the next budget will be announced on June 12, 2020, in Parliament,” an official from the Finance Division confirmed the media outlet.
The report said that the Annual Plan Coordination Committee (APCC) meeting has also been rescheduled and now it will meet on June 4, 2020, for consideration of development outlay and macroeconomic framework for next budget 2020-21. Earlier, the APCC was scheduled to meet on May 20, 2020. But now it will be postponed and will be held after Eid holidays.