Budget likely in first week of June

The government is likely to announce federal budget 2011-12 in the first week of June, it is learnt on Friday. The government has also postponed meetings of the National Economic Council (NEC) and the Revenue Advisory Council (RAC), scheduled to be held on Saturday (today). When contacted, a senior FBR official said so far the Board has not received any written intimation from the ministry of finance about the postponement of the budget.
However, the delay in the RAC meeting has been construed as if the government wanted to extend the date of announcement of the budget. The NEC and the RAC meetings have now been rescheduled ie May 26 and May 23rd, respectively.