ISLAMABAD: Non-elected technocrat third Finance Minister in three year rule of Pakistan Tehreek-e-Insaf government presented budget for the Fiscal Year 2021-22 here on Friday.
The total out lay was of 8487 Billion Rupees amid claims that Pakistan has now turn on to positive fiscal growth after crossing over “consolidation of economy”.
This economic turn-around was achieved through visionary policies of the Prime Minister Imran Khan despite Covid 19 pandemic which even hit hard the strongest economies of the world, said Shaukat Tareen.
As Shaukat Tareen started budget speech, the opposition members started shouting slogans against Imran Khan and his government. Despite strong protest and pandemonium, continuing his speech Finance Minister said Agricultural Sector has performed extra-ordinarily during the fiscal year 2020-21 except Cotton. Our farmers earned more than rupees 3100 Billion despite worst ever Locust Attack.
He acknowledged that Pakistan has to spend more on import of food items and said that government aims at focusing on Food Sector and for this purpose Agricultural Sector would be given exemplary incentives.
Tareen claimed that all economic indicators show that economy is progressing. Foreign remittances have increased and are expected to touch a figure of 29 Billion US Dollars, Per Capita Income is expected to increase by 15 per cent and export are also up by 14 per cent. This show that People of Pakistan have confidence in policies of the Imran Khan Government, he said. Pakistan was facing a deficit of 20 Billion US Dollar but today it is in surplus of US $ 800 Million, he said.
Poverty reduction, generation of new employment opportunities, financial assistance to millions of poor families during Covid 19 pandemic are the major successes of PTI government said Tareen recounting the achievements of the Imran Khan led government.
Tareen’s speech was marked by re-commitment to CPEC projects under taken by China and Pakistan. He said that over two dozen projects under CPEC have been completed and equal number of projects are under execution while 26 new strategic projects worth US $ 28 Billion are in pipe line.
He also hinted at strict measure against tax evasion, non-filers, increasing tax payers and stringent measures against tax officials harassing tax payers. The tax machinery will be made more efficient and strong, he said adding that automate audit system will be strengthened.
He also announced reserving US $ 1.1 Billion for importing Covid vaccine during next fiscal year.
He also announced special packages for sick units like PIA and Pakistan Steel which have turned white elephants in recent years.