100% budgetary increase green lit for marginalized, deprived segments: Hafeez Sheikh

ISLAMABAD: Advisor to the Prime Minister on economy and finance, Abdul Hafeez Sheikh in a press conference today said that the current fiscal budget of the government has raised the previous budgetary expenditure for the marginalized portion of the populace by 100%, ARY News reported on Wednesday.

Hafeez Sheikh claimed that the economic team tasked with bringing the country out of the doldrums of the financial crunch are working tirelessly and relentlessly for the pursuit of a sustainable and viable economy for Pakistan.

Sheikh apprised the attendants that the government had been successful in bringing down the imports along with reducing the current account deficit.

He continued that the private sector had a huge role to play in the current work being done to rekindle the dwindling economic state of the country.

Answering a question regarding the controversial GIDC, Sheikh said that it was better if the matter was left up to the Supreme Court’s decision.

Earlier on August 31, Speaker National Assembly Asad Qaiser held a meeting with Advisor to the Prime Minister on Finance Abdul Hafeez Sheikh in Islamabad.

During the meeting, economic situation and measures initiated by the government for the restructuring of the economy came under discussion.

The speaker on the occasion said the development of the country was directly dependent on its economic situation. Asad Qaiser said the present government inherited a messed up economy however the government sagaciously handled the situation.

The speaker said the government should formulate durable economic policies which should be pro-poor and people yielding low incomes must not effect.

Asad Qaiser also suggested for giving incentives to farmers.

Hafeez Sheikh apprised the speaker about the steps taken by the government for revival of economy and to generate economic activity in the country.