Hammad Azhar presenting budget in NA session

ISLAMABAD: The budget session of the National Assembly has started with speaker Asad Qaiser in the chair.
Minister of State for Revenue Hammad Azhar is presenting the budget for fiscal year 2019-20 during the session. Prime Minister Imran Khan has also reached the National Assembly. Earlier the federal cabinet approved the budget 2019-20.
Opposition parties, apart from the MMA, were absent from the National Assembly when the session was started. However, when the opposition entered into the house, they were wearing black armbands. They were also holding placards inscribed with slogans against Prime Minister Imran Khan and IMF budget.
There has been no increase in exports in the past five years,” he said.
“Due to financial mismanagement, the deficit reached Rs2260bn. Circular debt in the energy sector reached Rs1200bn.”
“Eighty thousand people will be given interest free loans under a mother and child nutrition program. Seven hundred thousand disabled persons will be given mobility and functionality aids.
“Under BISP, which has been placed under Ehsas, 5.7m extremely poor households will be given Rs5,000 as income support each month. Rs110bn have been set aside for this.
“The immediate steps we took to correct course included increasing the import duty from July to April, due to which imports decreased from $49bn to $35bn and the deficit decreased to $4bn.
“[Thanks to our steps] remittances increased by $2bn and Rs38bn monthly increase in power expenditures was brought down to Rs26bn. To stimulate exports, we issued low-interest loans.
“A $6bn programme with the IMF has been agreed to, and Saudi Arabia has offered deferred oil payments so that there is reduced stressed on our foreign exchange reserves.”
“The current account deficit has shrunk by $7bn dollars, and [will shrunk further by] $6.5bn next year. the Fata-KP merger will be given special attention.”
The government’s running expenses will be slashed to Rs437bn from Rs460bn.
The defence budget will be kept static at Rs1.15tr.
“As regards social welfare programs, we are introducing four [main] policies.
“One million people will be targeted for ration cards under the government’s Ehsas program.
“Eighty thousand people will be given interest free loans under a mother and child nutrition program. Seven hundred thousand disabled persons will be given mobility and functionality aids.
“Under BISP, which has been placed under Ehsas, 5.7m extremely poor households will be given Rs5,000 as income support each month. Rs110bn have been set aside for this.

LEAVE A REPLY

Please enter your comment!
Please enter your name here