The government presented a growth-oriented budget to create employment opportunities and fight poverty: FM Qureshi – Pakistan
MULTAN (Dunya News) – Foreign Minister Makhdoom Shah Mahmood Hussain Qureshi said on Saturday that the government had presented a growth-oriented budget in order to create maximum employment opportunities and fight poverty.
Addressing a press conference after reviewing different increase programs at the deputy commissioner’s office here, Makhdoom Shah Mahmood Qureshi said the government has presented a comprehensive budget which has received immense appreciation from all sectors. In previous budgets the government had focused on stabilization while in the 2021-22 budget the growth and development of the public sector was concentrated.
During the stabilization phase, the country received the highest number of remittances ever recorded. Likewise, record production of wheat, maize, sugarcane and rice was also observed.
However, there has been a decline in cotton, FM Qureshi said, adding that the government is doing its best to improve cotton cultivation by improving research techniques and providing better quality seeds.
The government was in contact with China to ensure the availability of high quality cotton seeds and the transfer of technology. Qureshi said the government decided to offer interest-free loans to farmers to improve crop productivity. In the industrial sector, he said, the country has recorded unprecedented growth of 9 percent.
Qureshi said federal excise duties and some other taxes have been reduced to improve the industrial sector. The government has also granted tax relief in special economic zones (SEZs). He hopes the measures will surely help accelerate the growth rate in the country.
Expressing his satisfaction, Makhdoom Shah Mahmood Qureshi maintained that public sector development allocations had been increased from Rs 630 billion to Rs 900 billion in the recent budget.
To solve the problem of inflation in the country, the foreign minister noted, the government was focusing on improving productivity, as this would help improve the supply of basic products and fight against the ‘inflation.
Likewise, the government was also determined to increase per capita income. There was immense pressure for an increase in electricity tariffs, but the government denied because it could lead to increased production costs and ultimately lead to inflation, Qureshi said.
Qureshi maintained that the government had set itself a growth target of 4.8% and hoped it would be further improved in the years to come.
Regarding roads and communication infrastructure, the minister said, the government has earmarked funds for Sukkur at Hyderabad Motorway, Sialkot at Khharian, Quetta-Chaman & Karachi Circular Railways. Likewise, huge funds would also be used for the freight corridor, ML-1 railways and some other megaprojects.
The government is negotiating with China for the ML-1 railway project, Qureshi informed and added that it will be completed in several phases.
Likewise, the government has allocated 118 billion rupees for energy projects with emphasis on hydel and solar system renewable energy projects.
Qureshi added that the government would also improve irrigation infrastructure at a cost of Rs 91 billion. Likewise, 10 dams would be completed within 10 years, he added.
Regarding regional equalization, the foreign minister said that huge funds were earmarked for the development of the backward regions of the country, including the amalgamated districts of Khyber Pakhtunkhwa, Southern Balochistan and Gilgit Baltistan.
Allocations have also been made for climate change, Qureshi said, adding that climate change is one of the biggest challenges affecting the country’s agricultural sector.
He maintained, however, that the government provided relief to all sectors in the recent budget, including farmers, industrialists, the stock exchange, government workers and a few others amid limited resources.
Qureshi hoped that the provinces would also follow the federal government in their respective budgets and provide maximum relief to the masses.
He also hinted that southern Punjab would have separate annual development allocations in the provincial budget.
South Punjab’s separate budget would be quartered, Qureshi said, saying the quartered budget would be used only in South Punjab. Regarding the construction of the South Punjab secretariat, Qureshi observed that the tenders would be launched on June 20 and hoped that work on the secretariat would start very soon.
Responding to a question about the cause of inflation, the Foreign Minister said that there were various factors, including maintaining artificial control of the dollar’s exchange rate, increasing the prices of products from base and import of food products, especially wheat, sugar, pulses and petroleum internationally. He added, however, that the government was taking measures to control inflation by reducing taxes and improving productivity.
On another question on the improvement of the power line and the problems of load shedding, Qureshi said that there is enough power generation in the country and the government is spending huge sums to improve the power supply. electricity transmission system.
To another question about angry PTI parliamentarians,
Qureshi said they have confidence in Prime Minister Imran Khan’s leadership. However, the investigation process in the Jahangir Tareen case was underway according to the law. The prime minister has categorically said he will not make any concessions or victimize anyone, Qureshi said.
Regarding the opposition’s reaction to the recent budget, Qureshi said the government has presented the best budget possible. Even the opposition did not find anything to criticize.
To meet revenue targets, Qureshi said the government will broaden the tax base and use tracking and tracing technology in this regard.
Asked about the different vaccines and the entry of citizens into different countries, the foreign minister said huge funds were earmarked for the purchase of vaccines.
Qureshi said the government has introduced a self-assessment system to facilitate traders and other businessmen. Traders often complained of being harassed by FBR officials. From now on, a third party will perform an audit of the traders, if necessary.
Responding to another question on allocations and use of funds, the foreign minister said district oversight committees had been set up, which would continue to monitor the use of funds on a regular basis.
Earlier, FM Qureshi chaired a meeting and reviewed various elevation schemes for the city. He also informed about the formation of the District Monitoring Committee, made up of parliamentarians and officers from different departments.