Federal budget to be presented on April 27: Miftah

F.P. Report

ISLAMABAD: Prime Minister’s Adviser on Finance, Economic Affairs and Revenue Miftah Ismail said on Friday that the federal budget would be presented on April 27.

Addressing a press conference here he said all political parties have been taken in confidence for the upcoming budget.

The adviser for finance further said that the government has not been able to sell bonds in Pakistani markets for the last seven years, but will be sold now.

Referring to industries, Ismail said the present government was not responsible for an increase in gas prices.

Earlier, Miftah said the government hopes to achieve GDP growth of six per cent during the current fiscal year, which will be the highest in last 10 years.

He had said that IMF had appreciated the growth trend in Pakistan. “In fact, they [IMF] suggested Pakistan should slow down the economy,” Miftah had claimed.

On the international monetary body’s observation regarding balance of payments and declining foreign exchange reserves, the adviser said that the IMF analysis was written before the devaluation of the local currency in December 2017.

He had also said that trade data for the month of February 2018 suggested that the current account deficit of the country was narrowing.