Govt. to take measure in the budget to consolidate economy: Naveed Qamar

ISLAMABAD : Minister for Finance, Revenues Economic Affairs and Privatization, Syed Naveed Qamar said on Saturday that special attention would be given to consolidation the economy to bring it on right track. The government inherited a sluggish economy and in the forthcoming budget special measure would be take for providing safety nets to the poor segment of the society.
“In the first year of the government, the focus will be on the consolidation of the economy and bring it on right track while in the next four years emphasis will be laid on the progress and accelerate the economic growth of the for the socio economic development of the country and welfare of its people”, he said this while addressing the Pre-Budget Seminar organized by the Express News and Channel here at a local hotel today.
Chairman Federal Board of Revenue (FBR) M.Abdullah Yousuf , Former Finance Minister Sartaj Aziz, Former Advisor on Agriculture Shafi Niaz, Abid Hassan of the World Bank, renowned economist Qaiser Bengali, President FPCCI Tanvir Ahmed Sheikh and Vice President All Pakistan Textile Manufacturers Association (APTMA) also spoke on the occasion.
Syed Naveed Qamar said that in the forthcoming budget would focus on the targeted subsidies to the poor segment of the society so that they could get the real benefit of the facility.
He added that government would also focus on reducing the non-development expenditures and steps would also be taken for mobilizing the revenues and broaden tax regime for the prosperity of the country.
He said that for the first time in the parliamentary history of the country, the defence budget will be debated in the parliament.
He criticized the policies of the previous government and said that Pakistan which is an agriculture country and feeds in the region while the previous government first exported the wheat at low prices and imported the commodity on the high prices causing losses to the country.
The Finance Minister added that government would also focus on the development of manufacturing and agriculture sector for employment generation and enhanced production.
Syed Naveed Qamar added that Pakistan is facing with economic challenges and crisis adding said “Every crisis will be turned into an opportunity”.
Speaking on the occasion Shafi Niaz called for development of agiclture sector and provision of maximum facilities to encourage the farmers for increasing per acre production.
Sartaj Aziz speaking on the occasion called for political stability for the economic development of the country.
He also called for development of agriculture and manufacturing sectors in the country.
He also stressed the need for providing economic relief to the poorest segment of the society through Baitul Maal and NGOs and creating employment opportunities to the people for poverty reduction.
Abdullah Yousuf speaking on the occasion also called for development of agriculture for the prosperity of the country.
Qaiser Bengali on the occasion stressed the need for utilizing the railways for transportation of goods instead of trucks for reducing import bill for the benefit of the country.
Abid Hassan in his remarks said that government should live in its means and reduce its budget deficit.
The other speakers stressed the need for promotion of agriculture and manufacturing sectors for the prosperity of the country.