ISLAMABAD (Eshfak Mughal):- The budget process for the next fiscal year has been entered into an important phase as priority committee has started review the budget proposals.
The Priority committee Meetings have been scheduled from l3 April to 19 April, 2022.
The Principal Accounting Officers (PAOs) are requested to attend the meeting in person to discuss Revenue, Receipts, current Expenditure including subsidies, Grants-in Aid, KPIs and targets of the Division/Department may be supported by Head of Departments (HOD) and Officers concerned under his administrative control.
Sources said that the priority committee under the Finance Secretary has started its work to review the proposals from different ministries and departments. The Finance Ministry will present available resources before the committee while discussing the proposals of the departments and ministries for the next fiscal year.
The Committee will try to distribute the available resources among the federal ministries and departments despite the ministries and departments asking for more. They have been demanding trillions of rupees for their development funds but the priority committee will propose the development funds as per the available resources.
Sources said that outgoing PTI government had agreed with IMF some budget ceiling for the next fiscal year but it may be change as per priorities of the new government. The former government had agreed with IMF to provide Rs559 billion for the Federal Public Sector Development Program (PSDP) for next fiscal year. The outgoing government has also promised that it will provide Rs12381 billion for total expenditures including current and development budget.
Sources also believe that new government will set budget targets under its priorities and big changes are expected in budget allocation.
The proposals will be presented before the Annual Planning Coordination Committee (APCC) which likely to met in next month under the chairmanship of Federal Minister for Planning. The federal and provincial officials will propose development and non development budget for next fiscal year to National Economic Council which will meet under the chairmanship of Prime Minister. Some federal ministers related to economic side, four chief ministers, Chief Minister Gilgit Baltistan and Prime Minister Azad Kashmir will attend the meeting.