Islamabad: The National Assembly has accepted the federal funds for the following monetary 12 months by a majority vote.
The strategy of clause-wise approval of Finance Bill 21-2020 has been accomplished below the chairmanship of Speaker National Assembly Asad Qaiser. During the approval of the funds, all of the motions of the opposition have been rejected. Following the approval of the funds, the Speaker adjourned the National Assembly until 11 a.m. on Tuesday.
After the National Assembly, the funds can even be accepted by the Senate, after which the President will signal it.
The authorities had introduced the funds for the following monetary 12 months within the National Assembly on June 12 with a quantity of Rs. 71.37 trillion. No new taxes have been imposed within the funds. The funds estimates authorities revenues from the Federal Board of Revenue (FBR) at Rs. 4963 billion in income and Rs. 1610 billion in non-tax income, whereas the deficit is Rs. 3437 billion.