Govt likely to present budget for FY25 on June 12

ISLAMABAD: The federal government is likely to present the budget for the next financial year 2024-25 on June 12, the Ministry of Finance sources said.

The budget date has been changed due to Prime Minister Shehbaz Sharif’s visit to China, sources said, adding that the National Economic Council will meet on June 10 on the return of the PM.

The National Economic Survey for the current financial year will be released on June 11.

Previously, Finance Minister Muhammad Aurangzeb was scheduled to table the budget on June 10. Reports indicate that the budget will incorporate the conditions set by the International Monetary Fund (IMF).

Earlier in the day, the prime minister arrived in Shenzhen, China, for a five-day visit at the invitation of Chinese President Xi Jinping and Premier Li Qiang. This visit aims to strengthen bilateral relations and explore new avenues for economic cooperation.

Prime Minister Shehbaz Sharif is accompanied by a high-level delegation, including Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, Planning Minister Ahsan Iqbal, Defense Minister Khawaja Asif, Energy Minister Musadik Malik, and Information Minister Attaullah Tarar. The delegation also includes the foreign secretary, the chairman of the Federal Board of Revenue (FBR), and other senior officials.

During this visit, PM Sharif will visit the cities of Xi’an, Shenzhen, and Beijing. In Beijing, he will hold delegation-level talks with Premier Li Qiang and meet President Xi Jinping. Additionally, meetings are scheduled with Zhao Leji, the chairman of the Standing Committee of the National People’s Congress, and heads of key government departments.