ISLAMABAD (APP) – Federal Minister for Planning and Development, Ahsan Iqbal, says government’s main target in budget 2015-16 is to strengthen industrial and agriculture sectors through incentives.
Talking to a private news channel, Minister informed that the government would achieve 5.5 percent growth rate this year, next year 6 to 6.5 % and it will try to achieve 7.5 percent growth rate in third fiscal year.
He said last year’s tax collection was 2250 billion rupees while 1400 billion rupees were spent on foreign debts and 850 billion on our Defence and security budget.
He explained that this year government is trying to increase foreign reserves up to the level of twenty billion dollars. “Due to the investment friendly policies of the present government, trust of all international monitory institutions is increasing in Pakistan,” he added.
He told that our objective is economical growth and job creation.”Every year 1.5 million new jobs are needed, but only government cannot create so many jobs alone. It is trying to attract private sector through incentives to increase Foreign Direct Investment” he added.
He said that Pakistan’s rating, whether it is Moody’s, Standard and Poor’s, are upgraded and declaring Pakistan one of the most favorable destination.
To a question regarding low budget on education sector, Minister describe that after 18th amendment in the constitution, 90 percent budget of education sector is dealt by provinces.
“Though federal government has allocated record development budget for Higher Education Commission and it has started a program to set-up minimum one university or university campus in every district of Pakistan so that every student could get chance of higher education,” he further explained.
Ahsan Iqbal said that government has given priority to construct Diamer Bhasha Dam and has decided to allocate funds for this project which will be completed in minimum 10 to 12 years.
“Prime Minister has set- up a “Prime Minister Delivery Unit” to monitor all the projects from their beginning so that these projects must be completed in their tenure,” he added.
Minister said in the budget 2016-16 government is going to take such measures that every Pakistani will be documented for his income and expenditure.
