NA to pass budget on June 14

Islamabad

The National Assembly (NA) will pass the federal budget for the fiscal year 2017-2018 following discussion on the budget proposals on June 14.

The House Business Advisery Committee of the National Assembly met in Parliament House, on Wednesday with Speaker Sardar Ayaz Sadiq in the chair to discuss the business for the 43rd Session of the NA, decided that the finance minister would present the budget on May 26 (Friday).

The meeting discussed the agenda and ways to run the proceedings of the 43rd session of the NA. The representatives of the parliamentary parties gave their proposals regarding business in the House.

It was decided that current session of the NA will be continued as budget session. The finance minister will present the budget for year 2017-18 on May 26 and general discussion on the budget will be started from May 29. He will wind up the general discussion on the budget on June 9 and after that the voting on demands of grants will be started on June 10. The budget session will continue till June 14.

The meeting was attended by the Zahid Hamid, Minister for Law and Justice and
Climate Change, Ch Muhammad Barjees Tahir, Minister for Kashmir Affairs and Gilgit-Baltistan, Sheikh Aftab Ahmed, Minister for Parliamentary Affairs, MNAs Ch Muhammad Ashraf, Shahab-ud-Din Khan, Syed Naveed Qamar, Dr Shireen Mehrunnisa Mazari, Ghulam Sarwar Khan, Sheikh Salahuddin and Sahibzada Tariq Ullah.

Meanwhile, the NA on Wednesday passed the Companies Bill, 2017. The bill containing 500 clauses is aimed at facilitating corporatisation and promoting development of corporate sector, encouraging use of technology and electronic means in conduct of business and for regulating corporate entities.  The NA, while passing the bill, rejected some amendments moved by the opposition members.

The bill intends to replace the Companies Ordinance, 1984 in order to consolidate and amend the laws relating to companies so as to encourage and promote corporatisation in Pakistan based on best international practices.