ISLAMABAD: Consultant to the Prime Minister on Economic Affairs Abdul Hafeez Shaikh on Monday stated that the federal government would not introduce any new tax in the coming budget.

Talking With a private news channel, he stated that the federal government would need to do strive in coming days to lower the budget deficit to 9 percent.

He stated that the unfavorable effect of coronavirus was likewise impacting the national economy like other countries, including that the federal government was attempting to lower its expenses by embracing austerity steps.

The consultant stated that today federal government had actually acquired budget deficit of $20 billion, which had actually been minimized to $3 billion through federal government’s sensible policies.

He stated that fundamental goal of the federal government was to offer relief to individuals in the next budget, including that responsibilities would be reduced on lots of things.

He stated that due to busy efforts of the State Bank of Pakistan (SBP), reserves had actually increased 12 billion dollars however sadly foreign remittances were reduced by 6 percent due to the coronavirus pandemic.

“In the 72 years’ history of the country, we failed to enhance exports of the country,” he added.

Reacting to a concern, he stated that the federal government would offer a bundle in upcoming budget to those sectors that financial activities and produce job opportunity for individuals in the nation.

He stated that the federal government was attempting to offer money financial help to individuals through the physical stimulus bundle, including that Rs12,000 per individual was being dispersed amongst the jobless people under the Ehsaas Program.

To another inquiry, he stated that the federal government would attempt to keep petroleum costs at a particular level.

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