Budget-related activities should be completed on agreed timeline: Miftah

ISLAMABAD: Adviser to Prime Minister on Finance Miftah Ismail Thursday emphasised that all budget-related activities should be undertaken in accordance with the agreed timelines, and closer coordination between Ministry of Finance and other ministries and departments was imperative to carry out the budget exercise in a cohesive manner.

The adviser chaired a meeting to review preparations for the budget 2018-19 and was given an update on budget preparations by senior officials of the ministry, heading different wings.  He was informed about the meetings that have been scheduled with different stakeholders for finalising budget proposals, said a statement.

The adviser said that comments and proposals received from different stakeholders should be given due consideration in finalising the budget document. He also stressed the need for timely printing of different budget-related documents.

Miftah Ismail added that budget would reflect government’s resolve for sustainable and inclusive economic growth.

Budget, as earlier stated by the adviser, is scheduled to be presented before the National Assembly on April 27.

Separately, Miftah Ismail also said that present government was working to enhance gross domestic products (GDP) growth rate, exports and decrease inflation and imports for improving the economy of the country.

Talking to a private news channel, he said, “We are preparing the budget for the next financial year to bring GDP growth rate at 6 per cent and reduce inflation and imports.”

Due to China Pakistan Economic Corridor (CPEC) projects, “we had to purchase machinery for power plants but this practice would diminish gradually”, he said.

As far as the issue of circular debt is concerned, Miftah said that it was also the responsibility of the provincial governments to take measures for the recovery of an outstanding amount so that state affairs could be handled in a befitting manner, he added.

To a question regarding privatisation of state airline and steel mills, he said that non-profit organisations should be privatised so that the money could be utilised for health and educational institutions.

To another question, he said that those elements fetching money to invest in this country would enjoy tax relief.