Common man to get relief in next budget, says Hafeez Sheikh

LAHORE:  Adviser to the Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh said on Saturday the Pakistan Tehreek-i-Insaf (PTI) government’s top priority is to give the common man relief in the upcoming fiscal year’s budget.

Speaking to a delegation of businessmen here, he said tough decisions are being made to steer the country out of economic distress.

Punjab Governor Chaudhry Muhammad Sarwar and Minister of State for Revenue and Textile Hammad Azhar were also present on the occasion.

Dr Shiekh said the country is expected to get $2-3 loan from the World Bank and Asian Development Banking at low interest rate following a staff level agreement with the International Monetary Fund for a $6 billion package.

“The government is bringing a long term policy for the economic stability,” he said, adding that the country is heading towards economic stabilisation. He said when the PTI took the reigns of the government, the country’s economic situation was not well.

Speaking on the occasion, the Punjab governor said the promises made to the business community would be fulfilled, adding the government and businessmen are on the same for the country’s progress.

“This is the first government which is working on a long term economic policy instead of short term one,” he added.

Hammaz Azhar said 57 per cent of the total tax revenue generated by the federal government goes to the provinces. He stressed the need for widening the tax net to deal with the economic challenges facing the country.