Prime Minister’s Coordinator on Economy and Energy Bilal Azhar Kayani on Tuesday said the Federal Government led by PM Shehbaz Sharif would work out all options to ensure a people-friendly budget for the next fiscal year.
“The priority will be given to specific measures that are crucial to curb inflation and stabilize economy with maximum relief to the lower and middle,” he said in an exclusive interview with APP.
“Surely, we can opt for a popular budget, but it will adversely impact the economy and we will not go for it in the larger national interest,” he added.
Bilal Kayani said the budget’s main focus would be on development projects as over Rs 1.1 trillion would be allocated on that count, including Rs 950 billion for the Public Sector Development Programme (PSDP) initiatives and Rs 150 billion for the projects under the public-private partnership framework.
He said the last Pakistan Tehreek-e-Insaf government had agreed on the “inappropriate conditions” of the International Monetary Fund (IMF) and deviated from all the standard protocols. Even the then finance secretary had also voiced his opposition to these conditions, but no heed was paid.
Moreover, he added, the former prime minister abruptly decided to withdraw from the IMF programme when he felt that he was going to be ousted from power, and that pushed the country on the verge of bankruptcy.
However, “we had to take tough decisions that were necessary to avert the default,” he remarked.
He expressed the hope that the staff level agreement with the IMF would be reached soon.
Kiyani said the incumbent government had been facing many challenges since it assumed the charge.—APP
