President Alvi objects to govt’s mini-budget ordinance

Islamabad:  President Dr Arif Alvi objected to the government’s bid to impose the ‘mini-budget’ recommendations through an ordinance, the sources said on Tuesday.

The government wanted to impose an ordinance for implementing the budgetary recommendations.

The development took place at the moment when the government accelerated implementing ‘tough conditions’ set by International Monetary Fund (IMF) to revive $7 billion Extended Fund Facility (EFF) stalled for months.

However, the sources said that the president refused to sign the bill as he wanted to approve the mini-budget-related legislation via a bill which should be presented before the parliament.

They said that the government team, after the president’s refusal, started working on the next strategy.

The government instead of passing a bill from the parliament to avoid spending more time preferred to go to the president for imposition of an ordinance.

According to the sources, the government would make another request to the President for promulgation of the ordinance after its approval from the federal cabinet as the budget related ordinance could not be tabled in the joint sitting of the parliament.

They added that the government thought that the president would not summon the parliament’s joint session again if the ongoing session was concluded because it would need the president’s approval for another joint sitting with new agenda items.

Earlier today, Federal Minister for Finance and Revenue Senator Ishaq Dar called on President Dr Arif Alvi at President House and briefed him on the overall economic and financial situation of the country. Dar also briefed the president about the bailout conditions set by the International Monetary Fund (IMF).

The latest reports suggested that imposition of Rs170 billion in additional taxes through a mini-budget also came under discussion.

At this, President Alvi asked the finance minister to take the parliament into confidence about the budgetary recommendations. He also asked Dar to immediately summon a parliament session to pass a bill at the earliest.