Federal budget for the financial year 2020-21 will be presented at 04:00 pm.
ISLAMABAD – While approving the budget for next fiscal year amid coronavirus crisis, the federal cabinet has decided not to raise salaries and pensions this time.
The federal budget will be presented by Minister for Industries and Production Hammad Azhar in the parliament house today at 04:00 pm.Earlier on Thursday, Adviser to the Prime Minister on Finance and Revenue, Dr Abdul Hafeez Shaikh said that country’s economy was stabilizing before the outbreak of coronavirus pandemic , which inflicted huge losses and derailed it towards negative growth of 0.38 percent.
He said that the economic reforms programme and the implementation was also acknowledged by the international financial institutions while International Monetary Fund had declared that Pakistan’s programme was on track and bearing fruits for the economy. On the fiscal side, there were significant improvements in all major indicators and the trend continued till March 2020, implying that the fiscal consolidation was on track.
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