ISLAMABAD: Adviser to the Prime Minister on Economic Affairs Abdul Hafeez Shaikh on Monday said that the government would not introduce any new tax in the coming budget.
Talking to a private news channel, he said that the government would have to do work hard in coming days to reduce the budget deficit to nine per cent.
He said that the negative impact of coronavirus was also affecting the national economy like other countries, adding that the government was trying to reduce its expenditures by adopting austerity measures.
The adviser said that the present government had inherited budget deficit of $20 billion, which had been reduced to $3 billion through government’s prudent policies.
He said that basic objective of the government was to provide relief to the people in the next budget, adding that duties would be decreased on many things.
He said that due to hectic efforts of the State Bank of Pakistan (SBP), reserves had increased 12 billion dollars but unfortunately foreign remittances were decreased by six per cent due to the coronavirus pandemic.
“In the 72 years’ history of the country, we failed to enhance exports of the country,” he added.
Responding to a question, he said that the government would give a package in upcoming budget to those sectors that economic activities and generate employment opportunities for the people in the country.
He said that the government was trying to give cash economic aid to the people through the physical stimulus package, adding that Rs12,000 per person was being distributed among the unemployed people under the Ehsaas Programme.
To another query, he said that the government would try to maintain petroleum prices at a certain level.
