NA passes budget to secure crucial IMF funding
The budget for the new fiscal year sailed through the National Assembly (NA) on Sunday, a day after the government made several changes, including fiscal tightening measures, dictated by the International Monetary Fund (IMF) in a last-ditch effort to secure critical funding.
The revised budget aims for an additional Rs215 billion in tax revenue alongside a cutback of Rs85 billion in public spending for the upcoming fiscal year. However, this does not affect the federal development budget or the salaries and pensions of government personnel.
During the session, Jamaat-i-Islami lawmaker Maulana Abdul Akbar Chitrali moved a resolution to send the budget to the Council of Islamic Ideology (CII). He contended that the budget was based on a “system of interest”, adding that by accepting it the government was going against the directives of the Federal Shariat Court (FSC).
“Not taking the CII’s opinion on the finance bill will be a violation of the FSC’s decision,” he said.
Ayaz Sadiq opposed the move, saying that parliamentarians had to go for Haj and called for wrapping up budget proceedings. The NA speaker put the resolution up for vote after which the the resolution was rejected.
