Federal Budget for 2017-18 Unveiled by PML-N government with Rs4.75tr expenditure
Federal Budget for 2017-18 Unveiled by PML-N government with Rs4.75tr expenditure: The fifth budget launched by PML-N government allocates more than Rs1tr to development projects and Rs920bn to defence spending.
On Friday 27th, May, 2017 the Lawmakers had gathered in the National Assembly at Islamabad ahead of the government’s announcement of the Federal Budget 2017-18.
The chaotic session, started with Finance Minister Ishaq Daar initially being prevented from speaking, when opposition lawmakers had said that they wanted to protest the manhandling of agitating farmers who had gathered at D-Chowk earlier in the day.
Eventually the opposition walked out at the middle of the finance minister’s speech, which left Mr Dar to deliver his 71-page speech on the government’s aspirations for the next fiscal year. The fiscal year starts from July 1, 2017.
The finance minister during his speech boosted that “This is the fifth budget being presented by the PML-N government” the finance minister termed it as an achievement for Pakistan’s democracy.
The finance minister in his reflection on the government’s growth story over the last four years claimed that the government had “turned the economy around.” The minister at this time made a claim that “We will be one of the largest economies by 2020.”
He further added that “Just four years ago, this extraordinary turnaround would have seemed impossible.”
International observers are cognisant of Pakistan’s successes, and Standard & Poor’s, Moody’s and Fitch have raised their ratings for the country, Dar said.
The minister added that “We have also performed better than the global average growth rate.”
The Finance Minister before unveiling the budget spoke at length about the Pakistan Economic Survey, which was released yesterday. Using the data in the Pakistan Economic Survey Ishaq Dar gave the governments “economic turnaround” narrative.
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