Preparations for the new Federal Budget 2024-25 are facing massive delays as the government prepares to consult on each and every item with the International Monetary Fund (IMF) before proceeding further. The lender's mission is expected to arrive in the coming few weeks, sources told ProPakistani. Sources said this has seriously impacted the planned schedule. The Budget Strategy Paper 2024-27, which was originally intended for approval by April 22, has not been finalized yet. Sources informed that meetings of the Annual Plan Coordination Committee (APCC) have not been convened as scheduled. However, it's anticipated that the National Economic Council meeting will take place in the second week of May. The completion of budget documents for presentation to the cabinet is expected by the end of this month. Subsequently, the budget for the upcoming financial year will likely be presented in Parliament during the first week of June. Prior to its presentation, the budget document will undergo approval by the federal cabinet after final touches by the IMF. Budget 2024-25 Timeline S# Activity Concerned Office Timeline 1 Issuance of Budget Call Circular Finance Division Feb-24 2 Laying of Mid-Year Review Report before NA Finance Division Feb-24 3 Submission of Form I i. Medium Term KPIs and Targets FY2024-25 to 2026-27 ii. Medium Term Performance Based Budget FY2024-25 to 2026-27 PAOs i. 11th March 2024 ii. Along with BO/NIS 4 Submission of Gender Responsive Budgeting - Form II PAOs 14th June 2024 5 Submission of Green Budgeting - Form III PAOs 14th June 2024 6 Federal Receipts (Non-Tax Revenue) Revised Estimates (FY2023-24) and Budget Estimates (FY2024-25) including proposals for new non-tax measures - Form IV PAOs 11th March 2024 7 Public Accounts Receipts and Expenditure, Revised Estimates (FY2023-24) and Budget Estimates (FY2024-25) - Form V PAOs 11th March 2024 8 Details of Bank Accounts/Investments - Form VI PAOs 11th March 2024 9 Submission of Revised Estimates (FY2023-24) Current a nd Development Expenditure - Form VII PAOs 11-Mar-24 10 Submission of Medium-Term Budget Estimates (FY2024-25 to 2026-27) Current and Development Expenditure - Form VIII PAOs 11th March 2024 11 Submission of Posts Proforma Federal Government Employees - Form X and/or XI PAOs 5th April 2024 12 Submission of Quarter-Wise Budget Estimates (FY2024-25) Current and Development Expenditure - Form XII and XIII PAOs 30th June 2024 13 Details of Assets - Form XIV PAOs 11 th March 2024 14 Sector-wise Details of Development Projects - Form XV Planning Division 11th March 2024 15 Submission of Foreign Exchange Revised Estimates (FY2023-24) and Budget Estimates (FY2024-25) -Form XVI to XXI PAOs 7th May 2024 16 Recommendations from Expenditure Wing on Revised and Proposed Budget Estimates Expenditure Wing 17th March 2024 17 Preparation of Medium-Term National Macroeconomic and Fiscal Framework EA Wing 3rd week March 2024 18 Budget Review Committee meetings Finance Division 22nd March till 5th April 20 24 19 Intimation of Exchange Rate Finance Division 18th April 2024 20 Approval of Budget Strategy Paper (BSP) FY2024-27 Finance Division 22nd April 2024 21 Issuance of IBCs for current and development budget (one line to M/o PDandSI) Finance Division 24th April 2024 22 Issuance of PAO Wise IBCs for Development Planning Division 30th April 2024 23 Submission of BO/NIS for Current Budget PAOs 29th April to 6th May 2024 24 APCC Meetings Planning Division 1st week May 2024 25 NEC Meetings Planning Division 2nd week May 2024 26 Submission of BO/NIS for Development Budget PAOs 3rd week May 2024 27 Completion of all Budget Documents, Schedules and Summaries for the Cabinet etc. Finance Division End May 2024 28 Presentation of Budget to the Cabinet and the Parliament Finance Division 1st week June 2024 Source: Pro Pakistani
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