Minister for Planning and Development Ahsan Iqbal has emphasized the need to expand the tax net and promoting exports of the country.

Presiding over a meeting of the Central Development Working Party held in Islamabad today, he said that over fifty percent of total expenditure is consumed by debt servicing.

Acknowledging the government’s efforts to reduce the inflation rate from 35 percent to 9.5 percent, the Minister pointed out that in 2018, PML-N government left Pakistan’s development budget at 1,000 billion rupees. However, six years later, the challenge remains to even maintain this figure due to the country’s economic crises due to mismanagement of the previous government during 2018-2022.

Ahsan Iqbal called on all provinces and ministries to exercise the utmost caution and responsibility when planning new projects. He urged that no compromise should be made on quality while preparing PC-I documents, and that national priorities should be considered when formulating any project.

He said the governme
nt is committed to turning around the economy by implementing 5Es National Economic Transformation Plan and restore six percent annual growth by 2029.

Source: Radio Pakistan