Fiscal discipline essential for economic growth: Finance Minister

News Image

By MG News | September 10, 2024 at 10:22 AM GMT+05:00

0:00

September 10, 2024 (MLN): Finance minister Muhammad Aurangzeb has said that fiscal discipline is key to economic growth, adding “Our revenue and exports would increase while borrowing would decrease if we preserve fiscal discipline”.

He said that the country’s economy was heading towards the right direction, the currency was stable, the inflation rate reached single digit and remittances and exports were all the time high during July and August, APP reported.

Responding to calling attention notices of Senator Mohsin Aziz, and Senator Zeeshan Khanzada in the Senate’s session about the issue of shrinking of loans, surging of debts in the private sector, and the process of digitalization of FBR, the minister said that upholding fiscal discipline was a key to the economic growth.

He said that the government has allocated subsidies for the SME sector in the budget 2024-25, adding the digitization process of FBR was underway on the fast track.

The finance minister said agriculture, and Information Technology sectors have been prioritized, while the country cannot be run through charity and everyone will have to pay tax.

The minister stressed the need for structural reforms, adding “If we succeed in reforming the state-owned enterprises and energy sector it would be the last programme of the IMF.”

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 132,576.99
161.03M
-0.62%
-826.20
ALLSHR 82,983.68
903.36M
-0.25%
-204.38
KSE30 40,358.80
56.86M
-0.72%
-292.66
KMI30 190,727.32
67.92M
-0.71%
-1356.60
KMIALLSHR 55,698.48
457.08M
-0.27%
-149.22
BKTi 36,242.06
11.15M
-0.50%
-180.82
OGTi 28,323.42
10.71M
-0.40%
-114.19
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 110,100.00 110,265.00
108,625.00
885.00
0.81%
BRENT CRUDE 70.16 70.71
69.61
0.01
0.01%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.45
1.51%
ROTTERDAM COAL MONTHLY 108.00 109.00
107.95
0.90
0.84%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.34 68.94
67.70
0.01
0.01%
SUGAR #11 WORLD 16.54 16.61
16.08
0.41
2.54%

Chart of the Day


Latest News
July 09, 2025 at 11:58 PM GMT+05:00

Auction Result: Govt raises Rs1.5tr through T-bills


July 09, 2025 at 05:27 PM GMT+05:00

Gold price in Pakistan falls Rs3,000 per tola


July 09, 2025 at 05:26 PM GMT+05:00

UBL crowned top performing Primary Dealer in FY25


July 09, 2025 at 05:11 PM GMT+05:00

SECP approves name change for Secure Logistics



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg