ISLAMABAD: As elections are looming, the government has gone overdrive in preparation for its last budget which it expects to present on May 4th.
Official on Thursday disclosed, the incumbent govt is planning substantial allocations under head of new initiatives, reported The News.
A senior finance ministry official said they had suggested the government to allot an ascertained amount under new initiatives without establishment of specific programs or projects and should leave it to the next elected government to tackle projects in line with their respective policies.
He added deliberations have taken place previously in which it was discussed about the present govt not depriving the next govt of rights to decide regarding projects.
Policymakers reached a consensus, that budget should be prepared as per usual and presented in such a way, which would be acceptable to all the political parties and decisions be taken in line with agreement of parliament.
A meeting of National Economic Council set to be held on March 7th and presided over by PM Shahid Khaqan Abbasi would provide a clearer picture after its conclusion.
A meeting of NEC which was set to be held last week was cancelled due to an over-extended session of Council of Common Interests (CCI).
A scheduled NEC meeting could not take place last week due to an overextended meeting of Council of Common Interests.
Pakistan Bureau of Statistics has been giving stiff opposition according to officials. PBS has expressed reservations over early finalizing of national accounts for calculation of provisional GDP growth numbers.
Secretary Statistics Division, Rukhsana Yasmin was adamant that they would able to prepare the data before the budget presentation.
Ms Yasmin the presentation of national accounts would be made to the appropriate department in April.
The National Accounts Committee (NAC) would have to calculate annual growth from data of just seven or eight months at max from various economic sectors including agriculture, industrial and services.
The finance ministry after finding a solution has planned to provide indicative budget ceiling by end of March.
Thus, the Priorities Committee will probably hold a meeting during second week of April for three to four days to conclude its inputs for holding annual plan coordination committee in third week of April.
The officials stated meeting of NEC could be conducted anytime by end of April or maximum by May 1st for giving go-ahead for macro-economic framework and development for next financial year.
