ISLAMABAD, Pakistan: Pakistan has achieved a stabilized economy and its economic growth has brought down inflation, the Finance Secretary told the Federal Cabinet on Tuesday.
In a Cabinet meeting presided over Prime Minister Shahid Khaqan Abbasi in Islamabad, the Finance Secretary said while briefing the participants on overall state of economy of the Country, that the interest rates were the lowest in decades while credit to private sector has touched historic highs.
The Secretary said that the fiscal deficit has been reduced while the Public Sector Development Programme (PSDP) and social safety spending has continued to rise.
The Federal Cabinet was further informed that the reform agenda focused on improving governance and fiscal sustainability.
During the meeting, the Cabinet approved several agenda items including amendments in the guidelines of prime minister’s global Sustainable Development Goals Achievement Program and amendments in the Rules of Business 1973. This would include re-organisation of Federal Secretariat by constituting new Ministries, Divisions besides bifurcating of some existing Ministries and Divisions.
The Cabinet also approved amendment in the Rules of Business 1973 regarding authorizing the Minister in Charge for initiation of negotiations.