ISLAMABAD: President Asif Ali Zardari endorsed the government’s tax-heavy Finance Bill 2024 on Sunday for the upcoming fiscal year, despite significant opposition from parties like the PTI and PPP.
Finance Minister Muhammad Aurangzeb had introduced the bill in parliament, which sparked heated debates and amendments discussions within the ruling alliance and opposition factions, including those aligned with imprisoned former Prime Minister and PTI Chairman. The PPP, initially hesitant, decided to support the bill after critical evaluation.
Amid fiery objections, the National Assembly passed the budget with modifications, labeling it unrealistic and detrimental to various sectors including industry and agriculture. President Zardari, following constitutional obligations outlined in Article 75, approved the bill without the authority to reject it, noting it would take effect from July 1. This move concludes a contentious legislative process marred by political dissent and economic apprehension regarding inflationary impacts of the budget.
