National Assembly approved Finance Bill for fiscal year 2014-2015
ISLAMABAD: The National Assembly on Saturday approved the Finance Bill for fiscal year 2014-15 with total outlay of Rs 4.3 trillion, accepting some amendments moved by the government and rejecting all ones from the opposition benches.
Following nine-day discussion, the 149-page Finance Bill was moved by Minister for Finance Ishaq Dar that was passed by the House with majority in clause by clause reading. The passage of the Finance Bill has successfully brought to an end the budgetary process started on June 3 with the budget speech of the finance minister at the National Assembly.
The bill now will go to the President for assent who will sign it into law making it will be applicable from July 1 2014. The House echoed with desk thumping as the House passed the budget in presence of Prime Minister Muhammad Nawaz Sharif who also witnessed the budget s passage.
The Senate had made 133 recommendations out of those the government accepted 57 and were incorporated in the federal budget full or partially. Once signed into law, the bill will increase monthly stipend from Rs 1,000 to Rs 1,500 billion for those receiving income support and number of families for the Benazir Income Support programme will be increased from 4.1 million to 5.3 million.