ISLAMABAD: Prime Minister (PM) Shehbaz Sharif urged the government’s economic team on Tuesday to use all available resources to bring maximum relief to the common man in the upcoming fiscal year 2023-24 budget.
He directed that every conceivable effort be taken to minimize the financial crisis of society’s middle and lower-income segments while chairing a meeting here to evaluate budget 2023-24 preparations.
During the meeting, the economic team updated the prime minister on budget preparation, the revised tax collection targets for the current fiscal year, and the proposed targets for the next fiscal year.
The meeting was informed that the budget for 2023-24 would be presented on June 9, following approval from the federal cabinet. It was further informed that Pakistan’s economy was approaching stability and that the fiscal deficit was steadily decreasing.
Pakistan’s Economic Performance
PM Shehbaz expressed satisfaction with the country’s economic performance, saying that due to stronger economic policies, the country’s current account balance had changed to a surplus after several years and had been showing a surplus for the last two months.
He also expressed satisfaction with the downward trend in urea fertilizer prices, claiming that it was only possible because of the government’s timely action. He said the supply of fertilizer at a reasonable price would assure farmers’ prosperity and that the country would progress towards self-sufficiency in agricultural commodities.
Furthermore, the prime minister directed that the pension reforms be completed as soon as possible. He said a pension fund should be established using innovative methods to ensure that the national exchequer bears the least financial burden.
Shehbaz Sharif said the welfare of pensioners would be protected following the pension reforms. He also instructed them to take practical steps to broaden the tax net and increase tax revenues.
Minister for Finance and Revenue Ishaq Dar, Interior Minister Rana Sanaullah, Defence Minister Khawaja Muhammad Asif, Minister of State for Petroleum Musadiq Malik, Planning Minister Ahsan Iqbal, Advisor Ahad Cheema, Special Assistants to PM Dr. Jehanzeb Khan, Tariq Pasha, Malik Ahmad Khan, Tariq Bajwa, Attalulla Tarrar, MNA Qaiser Ahmed Sheikh, Chairman Federal Board of Revenue and other officials attended the meeting.
