NA approves over Rs500bn in supplementary budget for FY25, Rs475bn for FY26

Wire excerpt

The National Assembly on Wednesday approved a supplementary budget of Rs593.64 billion for the fiscal year 2024-2025 (FY24-25) and a sum of Rs475.05bn for the outgoing fiscal year (FY25-26). Finance Minister Muhammad Aurangzeb moved a series of papers for approval during Wednesday’s session. Under the Constitution, the government must secure parliamentary approval for the federal budget before any spending. This approval allows the government to spend specified funds for different heads. However, the government often seeks retrospective approval for additional amounts already spent, leaving the parliament with no choice but to regularise these expenditures. The NA’s X account said Aurangzeb laid the Supplementary Authorised Expenditure 2024-2025 and 2025- 2026, along with other papers, before the house under Article 83 of the Constitution. Dawn provides a breakdown of the additional amounts approved for spending during FY24-25 and FY25-26, which will conclude on June 30. FY2024-25 The following supplementary grants were approved for FY24-25 (July 2024- June 2025): Rs430.10bn for Power Division Rs37.89bn for miscellaneous expenditure Rs22.84bn for defence services Rs22.15bn capit…