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Deficit at 3pc, subsidy unlikely, govt tells PML-N
ISLAMABAD: The economic committees formed by government and Pakistan Muslim League (PML-N) stressed on whittling down fiscal deficit at federal and provincial levels, slashing the volume of federal cabinet, establishing independent accountability commission and also taking up austerity measures.The government’s economic committee told the meeting that fiscal deficit touched three percent and economy is not that stable to give further subsidy.
The meeting urged on political parties to table an alternative to subsidy; so that economy and common men are not impacted.
The government committee was of the view that not only the federation, but also the provinces are needed to curtail their fiscal deficit.
On this occasion, PML-N demanded the government to bring its current expenditures down by 30 percent and improve the performance of government corporations.
Speaking after the meeting, Federal Finance Minister Hafeez Sheikh said national exports would reach to $20 billion and foreign exchange remittances to $10 billion this year.
The meeting also mulled over economic regimentation, he added.
Courtesy www.geo.tv