ISLAMABAD
Finance Minister Ishaq Dar has said that our target is to bring the fiscal deficit to 4 percent in three years and for this purpose it is essential to keep the Ministries ceilings within the fiscal limits. The Minister noted that all economic indicators are pointing to the fact that economy has begun to show signs of revival moving in the right direction.
The FM was chairing a meeting with Medium Term Budget Framework (MTBF) and Economic Reforms Units at the ministry on Saturday.
The minister was informed that the three year Medium Term Macro-economic Framework 2013-16 has been strictly followed and benchmark commitments are being focused. The detailed discussion focused on result based monitoring, draft Public Finance Act and where the budgetary situation stands today and where we want it to be by the end of fiscal year 2015-16.
The minister said that we have to follow performance based budgeting and closely monitor growth and Public Sector Development Programme. He said that planning, budgeting and accountability should go hand in hand.
He emphasised that transparency should reflect at every step of the economic reforms introduced by the government. He said, “We must ensure to cut the wasteful expenditure and allocations on social protections for poor and needy will be disbursed.”
