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Federal government starts working on proposals for economic recovery of Pakistan

Zain Aijaz by Zain Aijaz
January 3, 2023
in Business, Featured, Latest News, National, News, Top News
Reading Time: 1 min read
Federal government starts working on proposals for economic recovery of Pakistan

The federal government has started working on the roadmap for the economic recovery of Pakistan, which includes introducing a mini-budget. According to the details, the government is preparing to put forward a 10-year plan for sustainable economic development.

Economical support will be sought from friendly countries like China, UAE, Saudi Arabia and Qatar. The value of the dollar against the local currency will be determined by looking at the market under the conditions laid by IMF.

The government is also considering to meet the current account deficit through rationing petrol, electricity and gas. Other than that, a proposal to link the provincial funds to the losses in the gas and electricity sector.

To discourage imports of unnecessary items, a flood levy of 1 to 3 per cent will be applied. Regarding subsidies, the leadership decided to provide targeted subsidies only to the low-income sector. Common shopkeepers and traders will be brought into the net through fixed taxes.

Zain Aijaz

Zain Aijaz

Zain is a media student and a writer by passion. He is a certified creative writer from Wesleyan University and enthusiastically writes on non-fiction and political satire. He is vastly experienced in the field of theatre and has served as a theatre mentor across different institutions. Currently, he is a contributor at The Upcut and can be reached at zainaijazdehlvi@gmail.com

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