Government aims to achieve six percent of economic growth
While chairing the cabinet meeting on 'Budget Strategy Paper 2017-20' in Islamabad on Thursday PM says Govt is determined to increase investments in both human and physical infrastructure. The focus of the next year's budget would be on achieving higher, sustainable and inclusive growth.The Prime Minister appreciated market capitalization in the stock exchange that would soon touch 100 billion dollar.
Finance Minister Muhammad Ishaq Dar while briefing the meeting said the government has devised a medium-term macro-economic strategy to increase foreign reserves and reduce fiscal deficit.
Fiscal deficit of the federal government would be brought down to 4% of GDP by June 2020.
The upcoming budget will demonstrate fiscal prudence while focusing on key investment sectors such as CPEC, energy, communications and poverty reduction.Government would aim to achieve six percent of economic growth and enhance efforts to increase revenue generation in the budget year 2017-18.
Host: Dr Sajjad
Co Host: Shahzad
Analysts Live on Phone:
Dr. Shahid Hassan Siddiqui (Economist)
The upcoming federal and provincial budgets will be the last one before the next elections. The government is aiming to speed up the process of economic growth. The incumbent government should also focus on tax reform in order to bring more people in tax network. Almost, 60% of our total population is youth. The government should provide quality education and health facilities to youth so that they could play role in economic development of Pakistan. Certain job opportunities’ have also been created through China Pakistan Economic Corridor project. The government has reduced the prices of urea which is a good news. The government should also focus on to facilitate the farmers by proving them water, proper research-based knowledge and loan on easy terms and conditions to boost this sector as well.
Brig (Retd) Aftab Afzal (Defense Analyst)
Pak Amy is fighting a crucial and decisive war against terrorism since long and also supports civil administration in case of national disasters. COAS is leading the force from the front and regularly visiting the posts at border areas to motivate the soldiers who are busy in ensuring the integrity and security of the country. The recent Chaman border incident is condemnable but carefully handled by Pak Army. The Chaman border is being closed by our forces until the Afghan government changes its attitude. India has been involved in efforts to destabilize Pakistan through its evil designs using Afghan soil.