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Govt brings down fiscal deficit from 8.8% to 5%: Dar

SAMAA | - Posted: Jun 19, 2015 | Last Updated: 7 years ago
Posted: Jun 19, 2015 | Last Updated: 7 years ago

ISLAMABAD: Minister for Finance, Senator Mohammad Ishaq Dar on Friday said the government managed to reduce the fiscal deficit from 8.8 percent in 2013 to 5 percent by increasing revenues and reducing expenditures.

Winding up speech on charged expenditures here at National Assembly, Ishaq Dar expressed the hope that the 4.3 percent target of fiscal deficit for the fiscal year 2015-16 would also be achieved due to the prudent policies of the government.

He said due to the solid economic policies, the international rating agencies including Moodies, Poors and Standards had termed the Pakistan's economy as stable.

He also underscored the need for creating charter of economy for strengthening the country's economy saying that all political parties should join hands by setting aside their political indifferences and devise a charter of economy for the socio-economic development of the people of the country.

He said Prime Minister Nawaz Sharif always consulted with the political leadership of opposition parties while initiating important mega economic projects like China-Pakistan Economic Corridor (CPEC).

The minister said when the present government came in to power the daily production of crude oil was about 74000 barrel while now its daily production has reached to over 105,000 barrel.

He said the government had fixed ambitious targets for macro economic indicators with an aim to making extra efforts to achieve those targets.

He said after coming in to power the PML-N government abolished secret funds of 32 departments out of total 34 departments while it also imposed ban on import of duty free vehicles for any VIP in the country.

He said the government had accommodated maximum recommendation of Senate and National Assembly during the budget debate in the both houses regarding agriculture sector.

He said in the last meeting of Economic Coordination Committee (ECC) of the cabinet, the government had approved release of funds for two months of salaries for employees of Pakistan Steels Mills which would be released within in few days. – APP

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