Islamabad: Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez presented a report for the National Assembly’s (NA) approval, regarding a supplementary budget worth PKR 170 billion — according to a news source.
This supplementary budget will make the total excess expenditures to rise above the PKR 392 billion budget approved in the previous fiscal year. The Ministry of Finance had previously secured ex-facto approval from the parliament for additional spending worth PKR 222 billion at the time the budget for 2019-2020 had been approved.
The ministry also presented a summary to the cabinet’s Economic Coordination Committee (ECC) for the approval of additional spending worth PKR 170.4 billion incurred in the fiscal year 2018-2019, which ended on June 30.
Sheikh chaired this ECC Meeting, where the ECC approved the submission of a supplementary budget statement (addendum) worth PKR 170.418 billion. This brings the total spending for the fiscal year up to PKR 392.5 billion.
