Pakistan

PM approves budget recommendations for year 2016-17

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LONDON/KARACHI: Prime Minister Nawaz Sharif on Monday approved budget recommendations for the year 2016-17, during a video link address with the National Economic Council and the federal cabinet, ARY News reported.

The prime minister, in his address with the NEC, gave an e-assent to recommendations. The meeting approved Rs 1675 billion budget for the year 2016-17 and Rs 800 billion federal development program.

Sharif said that under his government economic indicators have been recording improvement, while gross domestic product (GDP) has remained above 4 pct during past three years. He said at present the GDP is at 4.71 pct and his government is determined to take it to 6-7 pct in next two years.

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“We have prepared the fourth budget in which we planned adequately for energy projects in the country,” the premier said in his address with the federal cabinet. “The fiscal deficit has reduced up to 4.3 percent, while tax collection witnessed an exemplary 56 percent increase.”

The premier said today the foreign reserves held by the country have reached up to Rs 21 billion and our efforts for three long years have now started to bear fruit

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He also appreciated Finance Minister Ishaq Dar and his team for working diligently, requesting him to introduce a special relief package for farmers in the budget.

Read: PM Nawaz to undergo open-heart surgery in London

The prime minister also thanked members of the NEC and federal cabinet who extended wishes for his speedy recovery, along with expressing gratitude to the nation for praying for him in this hour of need. He expressed hopes to meet them soon upon his return to country.


Sharif will undergo an open-heart surgery in London on Tuesday (tomorrow).

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