• About Us
  • The TFT Story
  • Team
  • Write for TFT
  • Online advertisement tariff
  • Donate To Us
Thursday, August 11, 2022
  • Home
  • Editorials
  • News
  • Analysis
  • Features
  • Spotlight
  • Videos
  • Citizens’ Voice
  • Lifestyle
  • Editor’s Picks
  • Good Times
  • More
    • About Us
    • Team
    • Write for TFT
    • The TFT Story
    • Donate To Us
  • Home
  • Editorials
  • News
  • Analysis
  • Features
  • Spotlight
  • Videos
  • Citizens’ Voice
  • Lifestyle
  • Editor’s Picks
  • Good Times
  • More
    • About Us
    • Team
    • Write for TFT
    • The TFT Story
    • Donate To Us
No Result
View All Result
No Result
View All Result
Home News

Tough Budget Decisions Made For Economic Relief: Miftah Ismail

Finance Minister Miftah Ismail has said that the budget for FY22-23 required 'tough decisions' which are ultimately aimed at bringing the masses relief, as well as achieving fiscal consolidation. He added that the country was going through a 'difficult phase' due to the 'damage done by Imran Khan'.

News Desk by News Desk
June 11, 2022
in News
Tough Budget Decisions Made For Economic Relief: Miftah Ismail
14
SHARES
Share on FacebookShare on Twitter

Finance Minister Miftah Ismail has said that the budget for FY22-23 required ‘tough decisions’ which are ultimately aimed at bringing the masses relief, as well as achieving fiscal consolidation. He added that the country was going through a ‘difficult phase’ due to the ‘damage done by Imran Khan’.

Miftah Ismail made these remarks a day after he presented the Annual Budget for FY22-23 in the National Assembly, at a post-budget press conference. He was joined by Information Minister Marriyum Aurangzeb and Minister of State for Finance and Revenue Dr Aisha Ghous Pasha.

The new budget lowered the tax burden of the salaried class, while increasing the pay of governmental officials by 15% on an ad hoc basis.

“Growth and inflation are our targets, but our first target is fiscal consolidation, to move the country away from the point where Imran Khan left it at,” Ismail said, adding that the government was trying to reduce the deficit by increasing taxes on Pakistani citizens who possess foreign assets along with new taxes on property.

He said that the country was going through an unprecedented period, and stated that he had never seen a more ‘difficult’ time in the past 30 years. “On one hand the international environment is very challenging and [on the other] the government or administration has worsened [the situation] and nothing was done to resolve issues,” he said.

Miftah said that despite having the most efficient units of power generation in the world, the production of electricity still incurred a cost. He said that the energy crisis, if not resolved, could result in a loss of ‘Rs 1,100-1,600 billion’ which would sink the ‘company’.

“It is unfortunate that we have to approach other countries for packages, loans or deposits,” he lamented. “Pakistan is an honourable country and a nuclear power. We have to set our economy right.”

Talking about the power subsidies Pakistan Tehreek-e-Insaf (PTI) Chairperson and former prime minister gave were akin to Khan handing out a cheque, without having money in his bank.

He said while they had targets of growth and inflation, the government’s first priority is fiscal consolidation and reducing the burden on the masses.

Also Read:

Many K-P Areas Being Handed Over To Taliban: Dawar

PTI Moves IHC Against ECP Prohibited Funding Verdict

Tags: budgetinflationreliefMiftah Ismailfinance minister miftah ismailbudget FY 22-23fiscal consolidation
Previous Post

PPP Minister Issued Show Cause Notice By Party For Attending TTP Negotiations

Next Post

Indian Police Kill Two Protesters During Demonstrations Against Blasphemous Remarks By BJP

News Desk

News Desk

Next Post
PPP Minister Issued Show Cause Notice By Party For Attending TTP Negotiations

PPP Minister Issued Show Cause Notice By Party For Attending TTP Negotiations

Recent News

Raw Pakistani Talent At The Commonwealth Games

August 11, 2022
Could Escalation On Taiwan Bring About A Ukraine In The Pacific?

Could Escalation On Taiwan Bring About A Ukraine In The Pacific?

August 11, 2022
Many K-P Areas Being Handed Over To Taliban: Dawar

Many K-P Areas Being Handed Over To Taliban: Dawar

August 10, 2022

Twitter

Donate To Us

Subscribe
The Friday Times – Naya Daur

THE TRUTH WILL OUT


The Friday Times is Pakistan’s first independent weekly, founded in 1989. In 2021, the publication went into collaboration with digital news platform Naya Daur Media to publish under a daily cycle.


Social Media

Latest News

  • All
  • News
  • Editorials
  • Features
  • Analysis
  • Lifestyle

Raw Pakistani Talent At The Commonwealth Games

by Junaid Jahangir
August 11, 2022
0

“The market undercuts community, atomises the family and...

Could Escalation On Taiwan Bring About A Ukraine In The Pacific?

Could Escalation On Taiwan Bring About A Ukraine In The Pacific?

by Osama Ahmad
August 11, 2022
0

The recent visit to Taiwan by Nancy Pelosi—speaker...

Social Feed

  • About Us
  • The TFT Story
  • Team
  • Write for TFT
  • Online advertisement tariff
  • Donate To Us

© 2022 All Rights Reserved.

No Result
View All Result
  • Home
  • Editorials
  • News
  • Analysis
  • Features
  • Spotlight
  • Videos
  • Citizens’ Voice
  • Lifestyle
  • Editor’s Picks
  • Good Times
  • More
    • About Us
    • Team
    • Write for TFT
    • The TFT Story
    • Donate To Us

© 2022 All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist