President Asif Ali Zardari has given his approval to the Finance Bill 2024-25 under Article 75 of Pakistan’s Constitution.
The president signed the measure into law after the National Assembly approved the budget with recent amendments.
The PML-N-led government unveiled the budget a fortnight ago, prompting sharp condemnation from opposition parties, especially the PTI, as well as those from coalition partner PPP.
Finance Minister Muhammad Aurangzeb introduced the finance bill in parliament, which was subject to revisions and discussion by both the governing alliance, led by Prime Minister Shehbaz Sharif, and the opposition.
Opposition parties, led by former premier Imran Khan, rejected the budget, citing fears about inflationary implications. Despite early boycotts, the PPP eventually chose to support the budget measure.
President Zardari publicly backed the proposal today under Article 75 of the Constitution, which states that the president may neither reject or object to a financial bill designated as a money bill.
The bill will go into force on July 1st, according to a release from the President House’s media department.
On June 13, the government introduced the Finance Bill 2024 in the Senate, as opposition PTI legislators protested and raised chants against the ruling alliance.
Speaking on the proposed budget, PTI Senator Shibli Faraz, Leader of the Opposition in the House, stated that it will burden the poor with an excessive amount of taxes.
He went on to say that the proposed budget will make life even more difficult for those already struggling with inflation.
In response, Leader of the House and Deputy Prime Minister Ishaq Dar, who also holds the portfolio of foreign ministry, stated that the opposition leaders had conducted a post-mortem on the budget, but that they would listen patiently.
He also stated that the opposition should express their concerns and make ideas in the House so that a meaningful discussion could take place.
