Staff Report
ISLAMABAD: In order to give effect to the budgetary proposals of the federal government for the forthcoming fiscal year, President Dr Arif Alvi on Tuesday accorded assent to the Finance Bill 2020-21, `media reported. The finance bill, passed by National Assembly, received the presidential assent under Article 75 of the constitution.
Earlier on June 29, the National Assembly had passed the Finance Bill 2020-21, giving the go-ahead to the financial proposals for the upcoming financial year. The bill had been moved by Minister for Industries and Production Hammad Azhar. Speaking in the Assembly, had said the govt presented a tax-free budget and it envisaged relief measures not only for the construction sector but also for the promotion of mobile phone manufacturing and electric vehicles.
