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Austerity measures in budget to yield additional Rs40 bln: Dar

Web DeskISLAMABAD: Federal Finance Minister Senator Ishaq Dar said on Thursday austerity measures announced in the federal 2013-14 budget would result in additional resource mobilization of Rs40 billion annually. Addressing a post-budget press conference here, Dar said that the PML (N) has laid down a medium term program to revive the ailing economy that would...

SAMAA | - Posted: Jun 13, 2013 | Last Updated: 8 years ago
SAMAA |
Posted: Jun 13, 2013 | Last Updated: 8 years ago

Web DeskISLAMABAD: Federal Finance Minister Senator Ishaq Dar said on Thursday austerity measures announced in the federal 2013-14 budget would result in additional resource mobilization of Rs40 billion annually. Addressing a post-budget press conference here, Dar said that the PML (N) has laid down a medium term program to revive the ailing economy that would focus on stimulating economic growth to up to 7 percent and scaling back budget deficit to around 4 percent of the GDP over the next three years.He admitted that some tough budgetary measures have been taken but said one has to realize that from where they have embarked upon a journey to revive the economy.Dar said that those who did not get any relief in the budget would be compensated in the next budget as the government is focusing to revive the economy.He said that one has to change the mindset in the country with regard to paying due taxes, adding privileged class would have share the burden and pay their due taxes.“People to have bear the burden this year only as from next year we will compensate them,” he said while referring to salaries of the government employees, which were not given the raise in the budget.Federal finance minister said that the government would accommodate very good suggestion to improve the budget. With regard to negotiations with the International Monetary Fund, he said that discussions with IMF would be carried out keeping in mind the interest of the country.He said that the a review mission of the IMF will be arrive in Islamabad on June 19. – SAMAA

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