ISLAMABAD: The National Assembly (NA) will hold an important meeting today, during which the federal budget for the fiscal year 2022-23 (FY 2022-23) will be presented.
As far as we know, the current government will present the budget during today’s NA session at 4 pm. The Speaker will be in charge. The budget for the next fiscal year will be given to the House by the Minister of Finance, Miftah Ismail.
Sources who know about the situation have said that the budget was made with the current economic problems in the country and around the world in mind.
Due to the possible trouble, strict security measures will be taken inside and outside Parliament House during the important session. More police and Rangers will also be stationed outside the house to stop any protests by Pakistan Tehreek-e-Insaf (PTI) members.
The rising economic crisis in the country was caused by the rise in gas and oil prices. The government says that the federal budget for 2022-23 will be good for the people and good for business.
When the important budget document “Pakistan Economic Survey 2021-22” was released on Thursday, the Minister for Finance and Revenue, Miftah Ismail, said that the GDP growth rate of 5.97% during the last fiscal year was not sustainable because the country needed to stabilise the economy before moving toward sustainable growth.
After releasing the economic survey, the minister talked to the press and said that the growth rate was based on the new base year. “The GDP (gross domestic product) growth rate would have been lower if it had been based on the old base year.”
Miftah said that the coalition government had to make hard choices in order to fix the economy and keep the country from going into default. “We have been able to avoid an imminent default by making the hard decision to raise the price of gasoline by Rs 60 per litre.” Now we will move on to the stage of stability, and then to the stage of steady growth.
