Daily Times

Minister for Finance and Economic Affairs Miftah Ismail Friday laid the copy of the Finance Bill-2018 in the Upper House of the parliament.

The copy of the Finance Bill-2018, containing the annual budget statement, was laid in the House under Article 73 of the constitution. The minister also moved a motion that the Senate may make recommendations, if any, to the National Assembly on the Finance Bill-2018.

The Senate chairman asked the members to present their recommendations to the Senate Secretariat till Monday. He said the recommendations would be referred to the Senate Standing Committee on Finance.

Earlier, the House adopted four motions including Money Bill to provide the declaration and repatriation of assets and income held outside Pakistan [The foreign Assets (Declaration and Repatriation) Bill 2018, the money bill to provide for voluntary declaration of domestic assets in Pakistan [The voluntary Declaration of Domestic Assets Bill, 2018, the Money bill to amend the Income Tax Ordinance, 2001 [ The income Tax ( Amendment) bill 2018] and the Money bill further to amend the protection of Economic Reform Act 1992.

Meanwhile, the opposition staged token walk-out. The opposition leader in the Senate Sherry Rehman said the government had no justification to present the sixth budget.

Published in Daily Times, April 28^th 2018.