Under the proposed plan, the federal budget documents are slated to be finalized by May
In the lead-up to Pakistan’s pivotal 2024 elections, the interim government has unveiled a proposed budget timetable for the forthcoming fiscal year (2024-25). This timeline, differing from the usual schedule, has triggered inquiries and apprehensions among diverse stakeholders.
As per the outlined plan presented by the Finance Ministry, the finalization of federal budget documents for the upcoming fiscal year is scheduled for May, with submissions slated for the initial week of June. To meet these deadlines, March 11 has been designated as the critical date for the submission of budget estimates.
Significantly, by March 11, a comprehensive presentation of public expenditure, budget estimates, and detailed information on bank accounts and investments is expected. This encompasses the submission of revised budget estimates for developmental expenditures.
In line with the proposed schedule, recommendations on revised budget estimates are expected to be disclosed by March 17, followed by the commencement of review committee meetings in the finance division on March 22. Additionally, key gatherings, including the annual planning coordination committee and the National Economic Council, are set to convene in the initial week of May, potentially spanning a week for discussions.
Emphasizing the importance of procedural approval, the timetable underscores the imperative for the federal cabinet to endorse the budget strategy paper by March 22. Moreover, the budget review committee is projected to meet from March 22 to April 5 to evaluate and enhance proposed budgetary allocations and strategies.