Sindh issues schedule for announcing budget 2020/2021

Sindh issues schedule for announcing budget 2020/2021

KARACHI: Sindh government has announced to present provincial budget for 2020/2021 in first or second week of June 2020.

According to schedule issued by Sindh Finance Department the budget for the fiscal year 2021/2020 likely to be presented to the cabinet and the provincial assembly by the finance minister in the first or second week of June 2020.

According to the schedule by May 28, 2020, the finance department would complete all budget documents, schedules, and summaries for the cabinet.

The planning and development department would present finalized Annual Development Program (ADP) – 2020/2021 by third or fourth week of May 2020.

The meeting of National Economic Council (NEC) is scheduled for first week of May 2020.

The finance department would finalize new taxation proposals and review existing taxes and fees by April 30, 2020.

The meeting of Annual Plan Coordination Committee (APCC) to be held by fourth week of April 2020.

The finance department would finalize Medium Term Budge Framework (MTBF) 2022/2023 by March 31, 2020.

The finance department would finalize of revised estimates for 2019/2020, budget estimates for 2020/2021 and SNE 2020/2021 for recruitment budget by March 31, 2020.

Last date for incorporation of any modification in the ADP 2020/2021 for Annual Plan Coordination Committee by April 20, 2020.

The Sindh government issued budget circular which is integrated the formulation of the Recurrent (non-development) & Development budget and it is being issued in consultation with Planning & Development Department.

Accordingly two additional forms (Form BCC-X and BCC-XI) have been incorporated in the circular for the formulation of development budget.

The Planning & Development Department will have the lead role in development budget formulation, whereas, the Finance department will be formulating the non-development Budget, Receipts and MTBF.

All Administrative Departments are required to submit budgetary proposals on prescribed forms which will be scrutinized by Finance Department and Planning & Development Department in detail, as per prevailing practice.

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