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Finance Bill 2023 to be Tabled Today to Meet IMF Requirements

A meeting has been called for both the National Assembly and Senate of Pakistan today in order to address the key demands of the International Monetary Fund (IMF)

The government plans to table its money bill in order to satisfy these demands.

At 3:30 pm, Senator Ishaq Dar, the Minister of Finance, will present the Finance Supplementary Bill, 2023, in the National Assembly. During today’s session, the bill is anticipated to be passed in a single motion, according to sources. The Senate has also scheduled a meeting for today at 4:30 p.m. to move the legislation and send it right away to President Dr. Arif Alvi for approval.

The President has promised to give his assent to the bill as soon as he receives it, despite the fact that he has the option to hold it for up to 10 days. The meeting today will feature Prime Minister Shehbaz Sharif, who was absent from the previous session.

Sources have informed the media that the government has been in contact with assembly members on an emergency basis to ensure maximum presence in both houses. The process began shortly after the finance minister met with the President on Tuesday afternoon.

The government was compelled to approach the Parliament after President Dr Arif Alvi turned down the idea of bringing the mini-budget via an ordinance in his meeting with Dar. According to the President, it would be more appropriate to take Parliament into confidence regarding this matter and to call an urgent session so that the bill may be passed immediately.

In the meeting, the finance minister informed the President of the progress made by the government in its negotiations with the International Monetary Fund. Dar informed Alvi that the government intended to raise additional revenue taxes by promulgating the ordinance, and that all the modalities agreed to with the global money-lending institution had been taken into consideration.

A meeting of the federal cabinet followed the meeting and the finance bill was approved. Raja Riaz Ahmad, the leader of the opposition in the National Assembly, has requested that his group members attend the meeting.

A bill passed by the National Assembly will be transmitted to the Senate, which will suspend the rules of business during the period of deliberations, and the bill will then be returned to the National Assembly.

Written by Aly Bukshi

The editorial staff at IPIN is a team of news publishing experts led by Aly Bakshi. We publish interesting and informative news/articles all over the world. Our aim is to provide readers with the latest and most up-to-date information possible.