Prime Minister Shehbaz Sharif
Cash-strapped Pakistan’s Prime Minister Shehbaz Sharif has recommended that big steps be taken in the budget for the welfare of the poor and middle class, in an effort to make it more people-friendly ahead of the October general elections.
“Despite economic challenges, additional efforts should be made to protect vulnerable sections of society,” he said on Monday while chairing a conference to finalise measures to help the poor and middle classes.
Pakistan is currently undergoing a serious political and economic crisis, with huge external debt, a weak local currency, and depleting foreign exchange reserves.
In April, inflation surged by a stunning 36.4 percent year on year, fueled primarily by rising food prices. According to the country’s statistics agency, this is the most in South Asia and is up from 35.4 percent in March.
The budget for 2023-24 is anticipated to be presented in parliament on June 9, and the government is attempting to make it people-friendly in advance of the October general elections.
According to an official statement, Sharif stated that maximum relief should be provided to the population by maximising the use of available resources.
He directed that a thorough plan be developed for providing direct subsidies to farmers.
The government will also aid deserving farmers in converting tubewells to solar energy, which would reduce fuel import bills and farmers’ per-acre output costs, he noted.
The prime minister stated that when prices in the international market fell, the government quickly reduced the pricing of petroleum goods.
He directed that the impact of lower petroleum costs be transmitted to the common man, and that the scope of the Benazir Income Support Plan be broadened to include poor people. It should be assured that no deserving widow is excluded from the Benazir Income Support Plan.
He believes that deserving students should be provided with advanced education and technical skills. He stated that the government was establishing an Education Endowment Fund for this reason.
Sharif stated that his government has always prioritised youth education, skills, computers, and jobs.
He stated that the government would train the youth in accordance with international standards and current demands.
He stated that the Prime Minister Youth Loan Programme’s scope will be expanded, and that youth would be provided low-interest business loans.
Sharif said the exports of the information technology sector would be raised by facilitating the youth in the IT sector. The youth would be given facilities so that they could get training for freelancing and technical education and get self-employed, he said.
He said all facilities would be provided for the progress of small and medium enterprises.
Federal ministers Khawaja Asif, Ishaq Dar and Ahsan Iqbal, Advisor to the PM Ahad Cheema, Minister of State Dr Musadiq Malik, Special Assistants Muhammad Jehanzeb Khan and officers concerned attended the meeting.
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