ISLAMABAD: The National Assembly (NA) to convene an important session today during which the federal budget for the fiscal year 2022-23 (FY 2022-23) will be presented.
As per details, the incumbent government is all set to present the budget in today’s NA session at 4pm under the chairmanship of the Speaker. Finance Minister Miftah Ismail will be presenting the budget for the next fiscal year in the House.
Sources privy to the matter have disclosed that the budget has been designed keeping the current economic challenges on the national and international fronts in view.
In light of the possible ruckus, strict security measures will be taken inside and outside Parliament House during the crucial session, while additional police and Rangers will also be deployed outside the House to prevent possible protests by Pakistan Tehreek-e-Insaf (PTI) members.
Amid the soaring economic crisis in the country that was triggered by the hike in petrol and gas prices, the government is claiming to provide a pro-people, business-friendly federal budget 2022-23.
Earlier, unveiling the important budgetary document of ‘Pakistan Economic Survey 2021-22’ on Thursday, Minister for Finance and Revenue Miftah Ismail termed the GDP growth rate of 5.97 percent during the outgoing fiscal year unsustainable as the country needed to stabilize the economy before moving towards sustainable growth.
Addressing a press conference after launching the economic survey, the minister said the growth rate was according to the new base year. “Had it been based on the old base year, the GDP (gross domestic product) growth rate would have been lower.”
Miftah said in order to streamline the economy, the coalition government had to take tough decisions to save the country from default. With the difficult decision of raising the petroleum prices by Rs 60 per liter, “We have managed to avert an imminent default. Now we will move towards the stability stage and then towards the sustainable growth stage.”
Courtesy Bol News