In a meeting to review considerations for the upcoming budget, the prime minister called for accelerating reforms to reduce the burden on the national finance minister
Maximum incentives must be given to industries in the federal budget for fiscal year 2020-21 to create jobs for young people and keep the economy functioning, Prime Minister Imran Khan said on Monday.
Chairing a meeting in Islamabad to review the upcoming budget goals – the Parliamentary session that will start on June 5 – he said the authorities must identify the sectors most affected by the economic downturn due to the coronavirus pandemic, so the government can ensure they receive maximum support.
According to a press release issued by the Prime Minister’s Office, Khan said the coronavirus pandemic had greatly affected the economic trajectory towards stabilization – a dubious statement even before the pandemic, the government had claimed a growth rate of 3.3 percent against the actual rate of 1.9. percent. He claimed the government, despite experiencing financial constraints, had provided an unprecedented economic stimulus package to support business and industry and to minimize the impact of the pandemic.
Khan said the current situation demanded an accelerated reform process in key sectors to reduce the financial burden on the national finance minister and provide assistance to the masses.
During the meeting, Counsel for P.M. on Finance Abdul Hafeez Shaikh told the participants about the overall state of the economy, as well as the government’s goals for the next budget.
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