Islamabad (Web Desk): The Pakistan Tehreek-e-Insaf (PTI)-led government is presenting its third federal budget today (Friday).
Finance Minister Shaukat Tarin is presenting the federal budget with an estimated outlay of around Rs8 trillion in the National Assembly (NA).
Prior to the session, the federal cabinet met in Islamabad to discuss and approve budget proposals. Prime Minister Imran Khan presided over the meeting.
Minister for Information and Broadcasting Fawad Chaudhary has said that Pakistan is moving towards economic stability after a long time as all the economic indicators are positive.
In a tweet on Friday, the minister said that political and economic stability was attained due to full confidence of the general public and institutions in the vision of Prime Minister Imran Khan.
He urged the opposition to treat accountability and reforms separately and take part in the negotiation process with the government for electoral and judicial reforms.
According to official sources, the budget for the upcoming year has been formulated considering the impact of COVID-19 on the people and businesses, and will have the aim of mitigating people’s sufferings, reforming the agriculture sector, promoting industry and businesses.
“The government of Pakistan is firmly committed to presenting a pro-people, business-friendly and growth-oriented Federal Budget FY 2021-22,” the sources said, adding that an all-inclusive, sustained and robust economic growth, through short, medium and long-term economic planning would be pursued.
In addition to fiscal management, revenue mobilisation; measures for economic stabilisation and growth; reduction in non-development expenditures; boosting exports; job creation; and people friendly policies for the socioeconomic prosperity of the country would feature in the budget.
It would also focus on social sector development besides introducing reforms for improving governance and boosting private sector investment.
Earlier, Minister for Planning, Development and Special Initiatives Asad Umar said that the government has set a 4.8% GDP growth target for the financial year starting July 1.
Meanwhile, the opposition has said that it will not allow an anti-people budget and will do everything to stop its approval.
Last month, Leader of the Opposition in the National Assembly Shehbaz Sharif hosted a dinner reception for all mainstream opposition parties on the upcoming budget.
Despite the current differences between the PPP and the PML-N, PPP Chairman Bilawal Bhutto-Zardari has said that the party will support Shehbaz on the budget.