Finance Minister Miftah Ismail is presenting the budget for the financial year 2022-23 (FY23) in the National Assembly soon.
This year’s budget session is less chaotic than some of the past presentations during the PTI-led government with no opposition present in the House as PTI members tender their resignations.
Ismail began his speech by cursing the previous PTI government, saying that its policies have damaged the economy and harmed the lives of the people of the country.
“An inexperienced team brought the country to the brink. Different people presented the budget every year with different policies, which hurt the sentiments of investors,” the finance minister said. of the hour
growth
The minister said the government would have to move towards “sustainable growth”, adding that the growth target for the next year was set at 5 per cent.
“The problem with our economy is that the growth is 3-4 per cent, but when it goes up to 5-6 per cent, our current account deficit gets out of control, because we give priority to the elite, making our Imports increase. We need to adopt new thinking, to facilitate the low-income group to increase domestic production,” the minister said.
inflation
Ismail said that the government has set a target of 11.5 per cent.
More to follow.