The federal budget will not be presented on June 5, and the meeting of the National Economic Council (NEC) has also been postponed, the private media channel reported on Tuesday.
Sources said that the federal budget for the upcoming financial year will no longer be presented on June 5 as initially planned. The budget is now likely to be announced on either June 10 or June 12, although a final date has yet to be confirmed.
The change in schedule comes amid ongoing negotiations with the International Monetary Fund (IMF) regarding the Public Sector Development Programme (PSDP) and broader budgetary matters.
Officials indicated that these discussions are still in progress, which has led to adjustments in the budget timeline.
Separately, the NEC meeting scheduled for tomorrow under the chairmanship of the Prime Minister has also been postponed. The meeting was expected to approve both federal and provincial development budgets.
Chief Ministers and finance ministers of all four provinces were expected to attend the session, while the Prime Minister of Azad Jammu and Kashmir was also scheduled to participate.
According to sources, an additional Rs200 billion is being incorporated into the Public Sector Development Programme (PSDP) at the direction of the Prime Minister. The IMF will also be informed about this increase, while efforts are being made to accommodate the adjustment through various financial measures.
The NEC is expected to consider a total development outlay of Rs4,715 billion. The federal development budget is likely to be increased from Rs1,126 billion to Rs1,326 billion.
Provincial development allocations are expected to amount to Rs3,138 billion. Under the proposed breakdown, Punjab’s development budget is projected at Rs1,450 billion, Sindh at Rs816 billion, Khyber Pakhtunkhwa at Rs564 billion, and Balochistan at Rs308 billion.
Officials said the final figures and dates will be confirmed after ongoing consultations with relevant stakeholders and international partners are completed.
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