Prime Minister Shehbaz Sharif has directed his economic team to focus on relief measures and economic stability in the upcoming budget 2023-2024.
During a meeting held to review the preparations for the budget, the prime minister directed comprehensive measures to minimize the financial crisis faced by the middle and lower income segments of society.
The economic team briefed Prime Minister Shehbaz Sharif on the budget preparation, including the revised targets for tax collection in the current fiscal year and the proposed targets for the next fiscal year. It was revealed during the meeting that the budget 2023-24 would be presented on June 09, 2023 after approval from the federal cabinet.
The economic team informed that Pakistan’s economy is progressing towards stability, with the fiscal deficit consistently declining. Prime Minister Shehbaz expressed satisfaction with the economic performance, highlighting that the country’s current account balance has turned to surplus after several years and has shown a surplus for the past two months.
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He also lauded the government’s timely action, which has led to a declining trend in Urea fertilizer prices. The availability of affordable fertilizer is expected to contribute to the prosperity of farmers and move the country towards self-sufficiency in agricultural commodities.
Additionally, Prime Minister Shehbaz Sharif emphasized the need to finalize pension reforms promptly. He called for the establishment of a pension fund using innovative methods to minimize the financial burden on the national exchequer while ensuring the welfare of pensioners. The prime minister also directed practical steps to expand the tax net and increase tax revenues.
The meeting was attended by key officials, including 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.
By prioritizing relief measures and promoting economic stability, Prime Minister Shehbaz Sharif aims to ensure the well-being of the common man and enhance the country’s financial prospects in the upcoming fiscal year.
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