Preparations for next budget 2016-17 in full swing: Sources

BusinessPreparations for next budget 2016-17 in full swing: Sources

ISLAMABAD, Pakistan: Preparations for next Budget 2016-17 are in full swing and would likely to be announced in the first week of June, official sources said.

Official sources told that Finance Minister Muhammad Ishaq Dar has also recently reviewed the status of budget 2016-17 preparation during a meeting with senior officials of the finance ministry.

Sources added that the finance secretary during the meeting presented a comparative analysis of revenue and expenditure position of the current year and made suggestions for the next financial year.

The meeting, they said was also informed that budget call circular have already been issued to ministries and departments.

Official sources added that Ishaq Dar has also expressed satisfaction over fiscal results for the first eight months of the Current Financial year 2015-16 and stressed continued vigilance on expenditure in line with revenue receipts so that the budgetary targets were achieved without fail.

Dar, they said also emphasized that the national security, rehabilitation of Temporary Displaced Persons (TDPs,) poverty reduction, further economic stabilization, energy and infrastructure development continue to be the priorities of the government and the budget 2016-17 should reflect these priorities.

Official sources further said that the government’s focus in the forthcoming budget would be on accelerated and inclusive economic growth and remain as the guiding principle during the budget making process.

Sources added that consultation process with all stakeholders including the chambers of commerce and industry was continuing in order to include useful inputs regarding the forthcoming budget.

Sources added that preparations regarding the forthcoming budget were on track and the finance ministry would continue to receive suggestions and input from the stakeholders for incorporating them in the budget.

Source: APP

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