Federal Cabinet approves finance bill for new fiscal year

ISLAMABAD: The federal cabinet has approved the Finance Bill for the upcoming fiscal year during a meeting chaired by Prime Minister Muhammad Shehbaz Sharif.

The cabinet granted approval to the bill with certain amendments. Additionally, the cabinet gave in-principle approval to proposed changes in various laws, which have now been referred to the Cabinet Committee on Legislative Affairs for further review.

The approved finance bill is expected to be presented in the parliament with the incorporated revisions.

Meanwhile, the cabinet decided that a committee on a gas agenda would also be constituted which would submit its suggestions in the Supreme Court.

Federal cabinet was also briefed on the recent decisions made during the National Security Committee (NSC) meeting.

According to official sources, the cabinet paid tribute to Prime Minister Shehbaz Sharif, Field Marshal Asim Munir, and Deputy Prime Minister Ishaq Dar for their pivotal roles during and after recent regional tensions. The members particularly acknowledged their efforts in de-escalating the Iran-Israel conflict.

Finance Minister Muhammad Aurangzeb also briefed the cabinet on proposed amendments and suggestions included in the Finance Bill. The session reviewed key fiscal measures aimed at stabilizing the economy.

Moreover, the cabinet granted approval to delegate the authority for determining the petroleum levy to the Ministry of Petroleum, marking a significant policy shift aimed at streamlining fuel pricing decisions.