[Pakistan] 25 per cent people living below poverty line: Govt

from The Pak Tribune

ISLAMABAD: Instead of 35 per cent, 25 per cent people are living below the poverty line in the country due to government’s policies.

This was told in a briefing given to media by the government about the targets of new budget and country’s economic situation on Monday.

Minister of state for Finance Ummar Ayub Khan, Prime Minister Advisor on Finance Dr Sulman Shah and Information Minister Muhammad Ali Durrani briefed the media men.

Information Minister Muhammad Ali Durrani said that the government has decided to make this budget the budget for poor, in which all people would be included in developmental process.

He said that Prime Minister Shaukat Aziz himself would talk with media about next budget on Wednesday at 5:00 pm.

Prim Minister Advisor on Finance Dr Sulman Shah said that GDP rate remained 6.6 while fiscal deficit remained 4.3 per cent including earthquake losses during current financial year.

He added that fiscal deficit without earthquake losses remained 3.5 per cent which was lower than 3.8 per cent target.

Shah said that inflation target was fixed at 8 per cent in current fiscal year but it decreased in the end of this year.

He noted that 35 million people were living below the poverty line.

Shah said that government wanted to fix 6.5 per cent inflation target for next financial year.

He said that the GDP target would be 8 per cent while the target for fiscal deficit to be fixed 4.2 per cent.

The security situation in the region may affect these targets, he said.

To a question about defence expenditures, Shah said that defence spending has been cut down from 6.5 GDP rate to 3.5 per cent adding, but we are not unaware from defence situation, as all the needs of armed forces would be met.

He said that armed forces would be modernized on latest pattern.

To query about price-hike, raise in sugar rates and investigation about ministers and sugar mills owners involvement in sugar crises, Shah said that investigation would be launched to know the reasons behind the small cultivation of sugar-cane and stocking of sugar.

He said that new NFC Award would be formed with the inclusion of the amended previous Award.

Minister of state for Finance Ummar Ayub Khan said that uplift programmes would be started in every district under Khushal Pakistan.