Prime Minister (PM) Shahbaz Sharif chaired a crucial meeting today in Islamabad to discuss budget preparations for the upcoming financial year 2023-24. The meeting was attended by government officials and members of the economic team who provided a comprehensive briefing on revised revenue and duties, as well as targeted estimates for the next year.
During the meeting, PM Sharif emphasized the common man’s welfare and directed officials to take all necessary measures to provide relief to the poor and middle class in the upcoming budget. He stressed the importance of utilizing all available resources to alleviate the financial difficulties faced by these segments of society.
The PM expressed his satisfaction with the timely strategies implemented by the government, which have led to a continuous decrease in the prices of urea fertilizer. He highlighted that this would not only benefit farmers but also contribute to the country’s self-sufficiency in agricultural products.
Additionally, PM Sharif lauded the achievement of a current account surplus in the past two months, a milestone that had not been reached in many years, as a testament to the government’s effective economic policies.
He also directed the officials to expedite the finalization of pension reforms and establish a pension fund through innovative means.
This would help alleviate the burden on the national treasury while ensuring the welfare of pensioners. He also emphasized the importance of increasing revenues and expanding the tax net to strengthen the country’s financial stability.
The meeting also received a briefing on the progress of the Pakistani economy, highlighting its movement toward fiscal stability and a continuous decrease in the fiscal deficit.
It was announced during the meeting that the budget for the next fiscal year would be presented on 9 June 2023, following approval from the federal cabinet.