PM for ensuring relief to common man in next budget

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday directed the government’s team involved in preparation of budget to ensure measures to provide the maximum relief to common man in the budgetary proposals for the fiscal year 2023-24.

Chairing a meeting here to review the budget 2023-24 preparations, he ordered to take every possible step to minimise the financial crisis of the middle and lower income segments of the society.

The meeting was informed that after approval from the federal cabinet, the budget 2023-24 would be presented on June 09.

The economic team briefed the prime minister on budget preparation besides the revised targets of tax collection for the current fiscal year, and proposed targets for next fiscal year. The prime minister also directed to finalise 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. He said that after the pension reforms, welfare of pensioners would also be ensured. He also emphasised taking practical measures to expand the tax net and raise the tax revenues. The meeting was also informed that Pakistan’s economy was inching towards stability and the fiscal deficit was continuously declining. Shehbaz expressed satisfaction over the performance on economic front and observed that due to better economic policies, the country’s current account balance turned to surplus after several years and was showing surplus for the last two months. In another meeting on development projects in Islamabad, the prime minister directed the Capital Development Authority (CDA) to make efforts for providing international standard facilities to citizens of the capital.

The meeting was apprised that in the rural areas of Islamabad, work on Rs10 billion package was being carried out which would bring a new era of development in those areas. For improvement of the transport system in Islamabad, a total of 160 electric buses would run on different routes and 30 electric buses would arrive by the mid of June to ply on two routes.

The meeting was apprised that a number of housing units equipped with the latest facilities were being constructed in the federal capital for the overseas Pakistanis while residential schemes for expatriates were also initiated in which they would be provided with concession of 15 percent over full payment. The meeting was informed that a total of 45 commercial plots located at the best locations of Islamabad were ready for auction.