The government has decided to pass the money budget through the parliament instead of bringing it through the ordinance, the federal cabinet has approved the finance bill, it will be presented in the parliament tomorrow.
Earlier, the president had refused to issue an ordinance for the money budget, which was urgently needed to convince the IMF to agree to the deal.
According to sources, the National Assembly and the Senate will send the Finance Bill to the Standing Committees of the Finance Department, and the Standing Committees will give recommendations on the bill.
According to the rules, it is the discretion of the Parliament to implement the recommendations of the committees or not.
Sources say that the finance bill is likely to be approved by the committees of both houses by Thursday morning. The Finance Bill will be sent to the President for his signature on Thursday evening itself.
The reason for the quick approval of the Finance Bill is to implement the terms of the IMF.
According to the sources, after the approval of the bill, the obstacles in the way of agreement with the IMF will be removed.
Sources further said that approval will be taken to levy new taxes worth Rs 170 billion in the Finance Bill.
