ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday, instructed the government’s economic team to use all available means to give the average person the most relief possible in the budget for the upcoming fiscal year 2023–24.
He gave the order while presiding over a meeting to review the budget preparations for 2023–24. He wanted to do everything in his power to prevent the middle- and lower-income groups in society from experiencing a financial crisis. The economic team briefed the prime minister on budget planning as well as the revised tax collection goals for the current fiscal year and the suggested goals for the following fiscal year during the meeting. The meeting was informed that the budget for 2023–24 would be presented on June 9 following approval from the federal cabinet
It was also informed that Pakistan’s economy was inching towards stability and the fiscal deficit was continuously declining.
PM Shehbaz, expressing satisfaction over the performance on economic front said, due to better economic policies, the country’s current account balance turned to surplus after several year and was showing surplus for last two months.
He also expressed satisfaction over the declining trend in the Urea fertilizer prices saying that it became possible only due to the government’s timely action.
He said availability of the fertilizer at affordable price would not only ensure prosperity of the farmers but the country would also move towards self-sufficiency in the agriculture commodities.
Furthermore, the prime minister also directed to finalize the pension reforms as soon as possible.
He said a pension fund should be established by adopting innovative methods to ensure minimum financial burden on the national exchequer.
Shehbaz Sharif said after the pension reforms, welfare of the pensioners would also be ensured.
He also directed to take practical steps to expand the tax net and raise the tax revenues.
Minister for Finance and Revenue Ishaq Dar, Defence Minister Khawaja Muhammad Asif, Interior Minister Rana Sanaullah, Planning Minister Ahsan Iqbal, Advisor Ahad Cheema, Minister of State for Petroleum Musadiq Malik, Special Assistants to PM Dr Jehanzeb Khan, Malik Ahmad Khan, Tariq Pasha, Tariq Bajwa, Attalulla Tarrar, MNA Qaiser Ahmed Sheikh, Chairman Federal Board of Revenue and other officials attended the meeting.
