ISLAMABAD: Senate has been summoned by President of Pakistan Dr Arif Alvi for a meeting to present the financial supplementary bill on Tuesday. Previously, the bill (mini-budget) was presented in the National Assembly.
Finance Minister Shaukat Tarin will present a copy of the mini-budget so that the Senate can make any recommendations if required. Both the State Bank of Pakistan Amendment and financial supplementary bill are needed to be approved for the approval of the sixth review of the $6 billion loan from the International Monetary Funds (IMF). A meeting is scheduled with IMF on January 12 for the release of $1 billion tranche.
The finance minister said the Senate has four days to make recommendations. After the prescribed changes, the National Assembly will pass the bill. He added that IMF had no issue if there were any delays in approval.