The first briefing paper for parliamentarians published by PILDAT is designed to act as an information booklet for parliamentarians on the process of budget formulation. The paper contains step-by-step information starting from budget formulation by the executive to the introduction of tools available to parliamentarians for an effective review and analysis of the budget before its approval. The briefing paper has been prepared in a bid to both raise the awareness of parliamentarians about their crucial role in analysis and review of the budget as well as to facilitate their analysis through providing relevant information to them in a succinct manner. The briefing paper is authored by Mr. Ghafoor Mirza, former Federal Secretary of Finance, Government of Pakistan. An updated version upto June 2008 of the Briefing Paper is also available.