Budget FY14: Finance Bill 2013 laid before Senate

ISLAMABAD: The government on Wednesday laid the Finance Bill 2013-14 containing the annual budget statement for fiscal 2013-14 before the Senate.

The bill was tabled by Minister for Finance, Revenue, Economic Affairs, Statistics and Privatization Ishaq Dar in the Upper House of the Parliament.

The Finance Bill is tabled before the Senate under Article 73 of the Constitution to provide its members an opportunity to forward their
recommendations to the National Assembly for their onward incorporation in the bill.

However, constitutionally it is not binding for the NA to incorporate these suggestions into the Finance Bill because the Senate has a recommendatory role in budget-making.

Senate Chairman Nayyar Hussain Bokhari referred the Finance Bill
to Senate Standing Committee on Finance for recommendations.

He asked the members to submit their recommendations with the Senate Secretariat by June 16 and the House would start debate on the budget same day.

Later, the House was adjourned to meet again on Saturday. (APP)