With just one day before Pakistan's crucial 2024 elections, the caretaker government has presented a proposed budget schedule for the upcoming fiscal year (2024-25). This schedule deviates from the usual timeline, raising questions and concerns among various stakeholders.
Under the proposed plan put forth by the Finance Ministry, the federal budget documents for the fiscal year ahead are slated to be finalized by May, with submissions scheduled for the first week of June. To meet these deadlines, March 11 has been earmarked as the crucial date for submitting budget estimates.
Crucially, by March 11, detailed accounts of public expenditure, budget estimates, as well as specifics regarding bank accounts and investments, are expected to be presented. This includes the submission of revised budget estimates for development expenditures.
As part of the proposed timeline, recommendations on revised budget estimates are set to be unveiled by March 17, followed by review committee meetings in the finance division commencing on March 22. Additionally, key meetings including the annual planning coordination committee and the National Economic Council are slated to convene in the initial week of May, potentially spanning a week for deliberations.
Highlighting the importance of procedural approval, the schedule underscores the necessity for the federal cabinet to approve the budget strategy paper by March 22. Furthermore, the budget review committee is anticipated to convene from March 22 to April 5 to assess and refine proposed budgetary allocations and strategies.
