Pakistan Parliament Passes Rs 7.022 Trillion Federal Budget

Islamabad: Pakistan's parliament on Friday gave its nod to the Rs 7.022 trillion federal budget for the fiscal 2019-20, as the ruling party and its coalition partners easily defeated the opposition's move to block the passage of the Finance Bill.

The budget was presented in the national assembly, the lower house, on June 11, followed by a heated debate that continued for several days.

It focuses on fiscal consolidation, revenue mobilisation, austerity measures and protection provision to the vulnerable segments of society.

Also read: India Denies Offer to Hold Talks With Pak, Says Messages Were 'Diplomatic Practice'

The opposition declared the Bill "anti-people" and announced, using all powers to foil the official bid, to get the mandatory approval of lawmakers.

The government, however, gathered enough support in the house to get it passed as the Finance Bill for 2019-20 and also foiled a bid by the opposition to block the presentation of the Bill for final voting with a 175 to 146 vote.

The treasury benches rejected almost all of the amendments to the Finance Bill moved by the opposition members, excluding some moved by the minister of finance and revenue Hammad Azhar, after there was a discussion on them by both sides.

The Finance Bill now needs presidential approval to become effective from July 1 when the country's new financial year will begin.

(PTI)

The Wire is now on WhatsApp. Follow our channel for sharp analysis and opinions on the latest developments.