ISLAMABAD: The Federal Budget 2018-19 will be presented on April 27 because our government’s term ends on May 31, announced finance adviser Miftah Ismail on Friday.
Addressing a press conference in the capital city, Miftah Ismail said he has consulted all political parties including PTI, PPP and MQM about the budget’s date.
“The idea is to give ample time to provinces so that they could present their respective budgets,” he said.
"There will be no circular debt when we complete our tenure," he said.
Speaking on this occasion, Interior Minister Ahsan Iqbal said that heavy investment had been also made in the country's infrastructure, energy and industrial sectors under the China Pakistan Economic Corridor (CPEC) which would result in giving boost to the national economy.
"CPEC is at initial stage and still its benefits are being felt across the country as far flung areas of the country are being connected with the big cities through construction of 1650 kilometers motorways besides numerous employment and entrepreneurship opportunities are also surfacing," he said adding after completion of the mega project in 2030, Pakistan would become hub of regional trade, business and manufacturing.
Ahsan said during last four years, the government had invested over US$1 billion to revive the country's railway system while under CPEC, over $8 billion were being invested to upgrade the railway sector. He informed that Gwadar Master Plan would be completed within five months and after its completion work on a state of the art and one of the most smart Gwadar port would be started.
He said for the first time in country's history, the government had made it possible to utilize the precious Thar coal and by the end of current year, the local coal would start producing electricity which would continue to produce electricity for next 400 years as the coal reserves in Tharparkar had energy equal to that of Iran and Saudi Arabia's oil and gas reserves.