Acting President Sadiq Sanjrani signed the Finance Bill 2023-2024 on Monday, thereby making it effective from July 1, 2023.
Acting President approves Finance Bill: Parliament approved the budget bill and forwarded it to acting President Sadiq Sanjrani since President Arif Alvi had left for Saudi Arabia on Sunday to conduct the Hajj.
The National Assembly approved the Finance Bill 2023-2024 on Sunday morning, approving the budgetary recommendations for the following fiscal year.
Ishaq Dar, the finance minister, introduced the bill in the house with a total cost of Rs14,480 billion.
The House approved the federal budget with the altered goals in order to win over the International Monetary Fund (IMF) and restart the loan programme that had halted.
The revisions have led to a change in the target for tax collection, increasing it from Rs 9,200 billion to Rs 9,415 billion.
In comparison to the initial allotment of Rs 761 billion, the budget has allocated Rs 801 billion for pension payments.