PTI government to present medium-term economic framework next week

PTI government to present medium-term economic framework next week

KARACHI: Federal Finance Minister Asad Umar has presented the Finance Supplementary 2nd Amendment Bill on Wednesday, which envisages a number of reliefs and reforms particularly for industry and agriculture.

“It is not a budget, it’s a reform package for economy, industry and agriculture. We want to form such an economy that this IMF bailout becomes the last bailout from IMF,” the minister said.

He said the PTI government will announce a Medium Term Economic Framework next week, which identifies the issues hampering country’s economic growth and provides measures to facilitate trade, industry and agriculture.

Asad said the previous government left a debt of around Rs3.0 trillion. “PTI government took difficult decisions, which are being reflected in economic numbers as exports have surged, trade deficit and current account deficit shrank”.

Minister said unless a balance is brought between revenues and expenditure, economy would not recover.

“Exports need to be increased, agriculture and industry needs to be developed. Without sustainable flows of investment, economy will not prosper. National savings are at 10.4 percent, which is lowest in the world”. [the_ad id="31605"] Medium-Term Economic Framework will provide the measures to achieve these goals, Asad Umar said adding year 2022-23 will be the year of take-off.

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