Shehbaz for maximum relief to masses in budget

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday directed the government’s economic team to utilize all possible resources to provide maximum relief to common man in the budget 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 minimize the financial crisis of the middle and lower income segments of the society.

During the meeting, the economic team briefed the prime minister about budget preparation besides the revised targets of tax collection for current fiscal year, and the proposed targets for next fiscal year.

The meeting was informed that after approval from the federal cabinet, the budget 2023-24 would be presented on June 9.

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.