A Workshop on “Budget Formulation Process” was held on Tuesday, 19^th August 2025 at National Institute of Public Administration, Lahore. Aim of the workshop was to enhance the understanding of the participants of 44^th MCMC about different steps in the Budget Cycle and developing budget proposals and estimates for optimal use of public resources.

The guest speaker started with discussing the vital importance of public financial management and role of budget formulation process in ensuring effective allocation of resources to meet the country’s economic, developmental, and operational needs. He deliberated that the process follows a structured approach rooted in established laws, procedures, and institutional frameworks, with an emphasis on transparency, accountability, and inclusivity. He talked about issuance of the Budget Call Circular by the Ministry of Finance, resource estimation, and consultation within line ministries, provincial governments, and parliamentary committees to ensure that the budget reflects both national priorities and regional needs. He also discussed preparation of Medium-Term Budgetary Framework as a strategic milestone during the process.

The session included detailed Q&A sessions on the challenges faced during budget formulation process which provided the participants with an opportunity to engage with the guest speaker and seek clarity on various aspects of the budget formulation process and stakeholders involved in it. A hands-on exercise was also conducted briefly in the last part of the session.