Federal Minister for Industries Hammad Azhar has presented tax-free budget this year due to coronavirus.
Islamabad: (UrduPoint/Pakistan Point News-June 12th, 2020) All eyes are on the parliament as Federal Minister for Industries Hammad Azhar is presenting the federal budget for fiscal year 2020, 2021 here on Friday.
The budget session of the National Assembly resumed at the Parliament House in Islamabad this afternoon with Speaker Asad Qaiser in the chair.
Prime Minister Imran Khan is also attending the session.
Minister for Industries and Production, will also lay before the Senate a copy of the Finance Bill, 2020, containing the Annual Budget Statement.
Earlier, Prime Minister Imran Khan had summoned a special meeting of federal cabinet today regarding approval of Budget 2020-21.
The cabinet was given a briefing by Finance advisor Hafeez Sheikh and Federal Minister for Economic Affairs Hammad Azhar on budget expenditure, revenue target, and budget deficit and relief package.
Cabinet members were taken into confidence on aggregate expenditure, revenue, deficit and coronavirus relief funds.
As per sources, the cabinet has given nod of approval to the budget of Rs. 7, 400 billion for the financial year 2020-21.
Earlier on June 03, Adviser to Prime Minister on Finance, Abdul Hafeez Shaikh had said that the federal government will not impose new taxes in the budget for the next fiscal year.
