Islamabad, Prime Minister Raja Parvez Ashraf Wednesday stressed importance of sound economic management, continuing austerity, completing projects in balanced way, ensure self sufficiency and revenue collection increase.
Provinces also need to enhance their revenue collection, he said while chairing high-level meeting in which he was briefed on state of economy and measures taken to improve it. Finance Minister Dr Abdul Hafeez Sheikh spoke of steps taken in Budget for next fiscal year 2012-13 for welfare of masses and solving their problems. Main areas of strong performance are continued growth in GDP despite adverse global situation.
He said high growth of remittances which will cross US$13 billion this fiscal year would be all time high and keep economy moving in right direction. Exports are likely to repeat good performance of last year in spite of decline in demand internationally.
Dr Sheikh said successful utilization of 100 per cent of Public Sector Development Program completion of over 200 projects and subsidies for poor including Benazir Income Support Program were some of significant economic achievements in outgoing fiscal year. He felt economic challenges continue to remain in form of public sector organizations, security situation which deters investment and called for political stability.