Preface The Annual Budget Statement containing estimated receipts and expenditure in terms of Article 80(1) of the Constitution of Pakistan 1973 is being laid before the National Assembly of Pakistan for FY 2020-21 which will also be transmitted to the Senate of Pakistan as required under 73(1) of the Constitution. The statement also meets the requirements contained in Article 80(2) of the Constitution showing separately charged expenditures and other expenditures to be made from Federal Consolidated Fund and distinguishes expenditures on revenue account from other expenditures. The section 4 of the Public Finance Management Act, 2019 provides that the Federal Government shall lay before National Assembly, Annual Budget Statement including a Statement of the Purpose and estimates for each demand for grant. The Statement shall also contain Statement of Contingent Liabilities of the Federal Government and Statement of Fiscal Risk. Furthermore, under sections 5 and 10 of the Fiscal Responsibility and Debt Limitation Act 2005, a Medium Term Budgetary Statement and Statements of Responsibility are also required to be laid before National Assembly. In addition, a statement of estimated tax expenditure has also been added in the Annual Budget Statement.
Naveed Kamran Baloch Secretary to Government of Pakistan Finance Division Islamabad, the 12th June, 2020.
