Opposition submits motions to cut seven ministries' budget

ISLAMABAD: The opposition parties in the National Assembly (NA) submitted 460 motions to cut the budgets of seven ministries, ARY News reported.

According to the details, the opposition maintained that the cut motions aimed at reducing the budgets of various ministries, including the Cabinet Secretariat, Energy, Finance and Revenue, Foreign Affairs, Interior, Law and Justice, and National Food Security.

The opposition will present the cut motions during the approval process of the respective ministries.

Meanwhile, the sources said that the federal government has decided to oppose all cut motions.

It is pertinent to mention here that Finance Minister Muhammad Aurangzeb presented the Rs 18 trillion budget for the fiscal year 2024-25 on June 12.

The National Assembly is currently holding the budget discussion as the lawmakers belonging to both sides of the aisle are taking part in the discussion.

Presenting the budget, the finance minister said that despite political and economic challenges, the government’s progress on the economic front in the past one year has been impressive. He urged Pakistan to capitalise on a fresh opportunity to revitalise its economy.

“Under PM Shehbaz Sharif’s leadership, we have pursued a homegrown agenda that has enabled us to overcome current economic challenges and boost the pace of development,” he added.

Muhammad Aurangzeb acknowledged the challenges faced by Pakistan’s economy, which had been struggling with depleted foreign reserves, a 40 per cent depreciation of the rupee, stagnant economic growth, and soaring inflation.

He commended the government for securing a crucial nine-month IMF programme in June 2023, which helped Pakistan avoid economic collapse.

“The previous IMF programme was ending, and a new deal was essential to prevent a default. I commend Shehbaz Sharif’s government for their efforts in securing the programme,” he said.

Muhammad Aurangzeb confirmed that a long-term loan deal with the International Monetary Fund (IMF) to bail out Pakistan’s economy will provide relief to inflation-broken masses, whose incomes have hit stalled in recent years.

The minister highlighted the significant improvement in economic indicators, crediting the PM and his team for their efforts. “Inflation stood at 11.8pc in May, a notable achievement considering the challenges. We’re on the right track, and inflation is likely to decrease further in the coming days,” he said.