Asad Umar hints at tabling mini budget in Parliament next month
ISLAMABAD (92 News) – Finance Minister Asad Umar on Wednesday said that It was overviewed to table the mini-budget in the parliament in next month.
The finance minister told Senate Standing Committee for Finance that the government considering over another mini budget and a finance bill, adding that It could not be delayed till June. He also told the senate committee no final decision made on the matter.
Asad Umar also briefed about the economic conditions, financial package and foreign debts of the country in the session of Senate Standing Committee. The minister told the committee that the talks for economic package with United Arab Emirates (UAE) have been in concluding stage.
He said Pakistan has received US$2 billion from Saudi Arabia in relief package, while the monthly 270 millions’ oil facility on deferred payment from the kingdom, will begin from January for three years.
He said the complete package worth of US$12 billion would be received from Saudi Arab, UAE and China, which removed the current financial deficit. He said the fiscal deficit for the current year has come to an end.
During the briefing to the senate committee session chaired by Farooque H Naik, Umar said that the government was not in any hurry for a bailout package of the International Monetary Fund (IMF).
Asad Umar told the senate body that global recession is the cause of recent slide in the share market. He informed the senate body that most of the economists have backed Pakistan’s move to get bailout package from the IMF.
Asad Umar said a proposal of hike in taxes and tariffs was under consideration, he said that the tax on some imported raw material could also be slashed.