PTI govt to unveil ‘stabilisation’ budget on June 11

ISLAMABAD: The Pakistan Tehreek-e-Insaf government is set to unveil its “stabilisation” budget on June 11, which aims at stabilising the economy, reducing fiscal deficit and managing the current account deficit as the country braces for austerity measures ahead of an International Monetary Fund (IMF) bailout.“Expenditure will be brought under control in the upcoming budget, setting the path for reduction in public debt,” Special Assistant to the Prime Minister on Information and Broadcasting Firdous Ashiq Awan said at a news conference on Tuesday, while briefing reporters about the decisions the federal cabinet arrived at. She, however, said vulnerable sections of society would be protected and the government would prioritise reducing the financial burden on the common people. She added that during the cabinet meeting, Adviser to the Prime Minister on Finance Dr Abdul Hafeez Sheikh presented the outlines of the next budget to the cabinet.Awan said further steps would be taken to improve growth prospects and create jobs, adding the provincial governments which through National Finance Commission Award got a major share of resources would be taken on board to tackle the challenges faced on the economic front.She said ultimately the economic roadmap given by the government stabilised the value of rupee against the dollar and put an end to uncertainty and rumours affecting stability of the economy.The stock exchange has responded positively “setting new records”, she observed, adding the economic measures would ultimately bring down inflation and minimise the people’s economic difficulties.She said the government would announce a comprehensive and well-defined trade policy to increase exports, reduce imports and balance the trade deficit. The focus would be on revival of sick industrial units.In the past, interests of industries were not protected under the Free Trade Agreement with China which created a “consumer economy” that led to an expansion in imports, she added.Awan said the latest incident in North Waziristan was “unfortunate” as the miscreants challenged the writ of the state by attacking an Army check post and a personnel of Frontier Corps was martyred.The cabinet condemned the incident and expressed solidarity with the injured and prayed for the departed soul, she added. She said tribesmen had rendered great sacrifices and paid with their lives and now some miscreant elements were putting at stake peace and development of the tribal areas.Prime Minister Khan led efforts for peace in the tribal areas and decided to spend Rs100 billion for the development of infrastructure, she added.She said a conspiracy was hatched and some elements played in the hands of international powers to endanger peace of the area. The Prime Minister had persuaded provinces to give three per cent share of their National Finance Commission award to the erstwhile Fata areas, she added.Awan said the cabinet expressed concern over the misuse of the internet and increase in incidents of child molestation. The Interior Ministry was given responsibility to take steps for stopping the rising incidents of child abuse, she added.The PM’s aide said the ministries of Law, Human Rights and Interior were asked to re-examine the laws regarding crimes against juvenile and the Prime Minister was of the view that capital punishment should be given to people involved in child abuse cases.

from The News International - Top Story http://bit.ly/2VTyIMQ