ISLAMABAD, May 27: A senior level team of finance ministry will formally brief would-be finance minister Senator Ishaq Dar on the state of economy and seek his advice on the way forward to finalisation of budgetary proposals for 2013-14.

Informed sources told Dawn on Monday that Finance Secretary Dr Waqar Masood Khan and chairman Federal Board of Revenue Ansar Javed and other senior officials would brief Mr Dar on the progress achieved so far on finalisation of estimates for expenditures and revenues for the next year besides latest situation on economic indicators and tax collections.

An official said Mr Dar had previously asked senior officials of the finance ministry and the FBR to prepare their projections and share with him. Mr Dar has separately been working on various budgetary proposals in consultation with senior party and business leaders which he was expected to share with government officials as budget guidelines.These sources said that initial consultations suggest the economic survey would be launched on June 13 while the federal budget would be presented in the National Assembly on June14. The government plans to notify reconstitution of the national economic council soon after oath-taking of the prime minister, most probably on June 5.

The meeting of the NEC was expected to be called on June 10 or 11 to approve public sector development programme and macroeconomic framework for the next year.

Once approved by the NEC, the ministry of finance required at least three days for finalisation of the federal budget after printing of PSDP documents.

Meanwhile, caretaker Prime Minister`s Adviser on Finance and Revenue Dr Shahid Amjad Chaudhry told reporters that the ministry had completed its homework on budget preparation to a stage that the new government would incorporate its budgetary proposals in a couple of days to finalise budget 2013-14.

Replying to a question, he said the caretaker government would not increase fuelbased electricity tariff as cleared by the National Electric Power Regulatory Authority because it felt it was prerogative of the elected government. He said the new government would have to restructure power sector.