ISLAMABAD: The Federal Cabinet on Monday approved budget and taxation proposals for the budget of fiscal year 2016-17.
Prime Minister Muhammad Nawaz Sharif, through a video conference from Pakistan High Commission in London, presided over the cabinet meeting, held here at the PM’s Secretariat.
The budget papers were signed by the Prime Minister, which were sealed to be opened before the budget session on June 3, 2016 when Finance Minister Ishaq dar will present the budget.
The finance minister briefed the meeting about salient features of the budgetary proposals.
Nawaz Sharif is in London where he is due to undergo an open heart surgery on Tuesday. The cabinet prayed for the successful procedure and early recovery of the Prime Minister.
Earlier, the Prime Minister also chaired the meeting of National Economic Council that gave approval to the budget allocations of various sectors.-APP