ISLAMABAD - President Arif Alvi Monday signed the Finance Bill 2019-20, bringing the bill into force.

The bill was sent to the presidency for validation after approval by the National Assembly on Friday last.

The government succeeded in getting the budget for FY 2019-20 passed from the National Assembly, with the coalition and its allies comfortably defeating the combined opposition’s attempt to block it.

The total outlay of the budget is Rs7.022 trillion, focusing on fiscal consolidation, revenue mobilisation and austerity measures. The Money Bill included a new stringent fiscal law that it added to the Finance Act at the last minute.

The treasury benches rejected almost all the amendments to the finance bill moved by the opposition members after there was a discussion on them by both sides, whereas the amendments moved by Minister for Finance and Revenue Hammad Azhar were adopted by the house.