Federal Finance Minister Abdul Hafeez Sheikh said that federal budget would be presented on June 03, 2011.

He said that all parliamentary parties would be taken into confidence in budget-making. Talking to media in Islamabad, Sheikh said that traders and industrialists have been consulted for preparation of the budget and the Economic Consultation Council would also be approached for further suggestions.

The minister asserted that the agriculture tax was a provincial matter after the 18th Amendment. He added that equal tax should be imposed on farmers earning more than Rs 3 lakh.

Earlier, in another ceremony, the minister said that security and natural disasters caused more damage to country’s financial situation.