KARACHI: The Sindh Assembly on Friday officially approved the budget for the fiscal year 2024-25, amounting to Rs3.056 trillion.
The finance bill, which is essential for setting the financial plan for the coming year, was presented and passed with a majority vote despite opposition members voicing their disapproval in the assembly.
During the session, opposition lawmakers protested and chanted slogans against the passage of the finance bill for FY 2024-25, arguing that the bill should be approved in phases.
Meanwhile on Friday, the National Assembly passed the Finance Bill 2024 after a clause-by-clause consideration, incorporating specific amendments.
Minister for Finance and Revenue Muhammad Aurangzeb moved the motion for consideration of the Finance Bill, 2024 to give effect to the financial proposals of the federal government for the year, commencing on July 1, 2024.
The motion was passed with majority vote which led to the passage of Finance Bill-2024 after clause-by-clause reading and adopting amendments after due process of voting.
All the amendments, presented by the opposition members, were rejected.
The total outlay of the federal budget for the fiscal year 2024-25 is Rs. 18.877 trillion. This budget outlines the government’s fiscal policies and budgetary allocations for the upcoming financial year, reflecting a comprehensive plan to address various economic and social challenges.
The government has allocated Rs. 1,400 billion for the Public Sector Development Programme (PSDP) in its current budget, and an additional amount of Rs100 billion would be allocated under Public-Private Partnership, bringing the total to Rs1,500, the highest in the country’s history.
