Friday, July 23, 2021

Budget 2021-22 aims to stabilize economic progress: PM Imran

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ISLAMABAD: Praising the budget 2021-22, Prime Minister Imran Khan on Monday said that budget aims to stabilize the country’s economic progress, ARY News reported.

Presiding over a meeting of his party spokespersons in Islamabad today, PM Imran Khan said that budget 2021-22 would prove a ray of hope for all segments of the society.

The prime minister Imran Khan congratulated his economic team over presenting a balanced and people-friendly budget. He maintained that they were taking measures to boost agriculture, industries, housing and other sectors.

Read More: FY2021-22: Rs8.5tr federal budget announced with historic PSDP allocation

Earlier on June 11, amidst ruckus by the opposition, Finance Minister Shaukat Tarin had unveiled the federal budget 2021-22 in the National Assembly.

He had started his budget speech by stating that the biggest challenge for the incumbent government was to bring the national economy back on the path of recovery.

Pakistan’s economy had witnessed a V-shaped recovery after contracting by 0.47 per cent in fiscal year 2020-21. The provisional GDP growth rate for fiscal year 2021 is estimated to be 3.94 per cent against the targeted growth of 2.1 per cent through the policy initiatives undertaken during fiscal year 2020-21.

The nominal GDP for fiscal year 2021 was projected to increase from Rs45,567 billion to Rs47,709 billion, whereas, the Economic Stimulus of Rs1.24 trillion announced in March 2020 had been extended for the fiscal year 2021 and an amount of Rs155 billion has been released to mitigate the socio-economic impacts of Covid-19 pandemic.

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