Federal Finance Minister Muhammad Aurangzeb has said there is no change in the budget figures, clarifying that the impression of a discrepancy was created due to misinterpretation.
Winding up the budget debate in the National Assembly, the finance minister said most recommendations from the Senate and National Assembly standing committees are being made part of the federal budget.
During the session, opposition members moved a privilege motion over what they described as differences in the budget figures.
Responding to the objection, Finance Minister Muhammad Aurangzeb said the impression of changes in the figures was based on misinterpretation.
“There is no change in the figures,” he told the House.
He said the figures had been released during the meeting of the National Accounts Committee, adding that figures for fiscal year 2018 had also been included in the chart, which may have caused confusion.
Budget proposals reviewed by committees
The finance minister said the opposition leader, Saleem Mandviwala, Naveed Qamar, and relevant committees had reviewed the budget proposals. He said the government intends to include some of the proposals in the budget.
Aurangzeb thanked coalition allies for supporting the budget and said members’ opinions had been taken into account during the process. He added that the direction of economic policy had already been set in the previous budget.
Economic indicators improving
The finance minister said Pakistan’s economic indicators have improved. He noted that large-scale manufacturing has recorded 6% growth, while exports are moving towards recovery.
Aurangzeb said IT exports have also increased, reflecting improvement in the technology and services sector.
Aurangzeb told the National Assembly that the current account is in surplus. He said overseas Pakistanis have sent record remittances and expressed confidence that the country will achieve the $41 billion remittance target.
The finance minister added that freelancers have also set a new record by earning $1.6 billion in foreign exchange during the year.
Relief and allocations announced
The finance minister said Rs1.7 billion has been allocated for crop insurance. He added that Rs7 billion has been set aside for agricultural cold storage facilities.
Aurangzeb said taxes in the housing and construction sector have been reduced, while tax relief has also been provided to the salaried class.
He further stated that taxes on life-saving medicines have been reduced.
The finance minister said Pakistan has benefited from the reduction in oil prices following the ceasefire. He linked the easing of global oil pressure to improved economic conditions and relief measures in the budget.
Recommendations made part of budget
Aurangzeb said most of the recommendations of the Senate and National Assembly standing committees are being incorporated into the budget. He said the government had carefully reviewed input from parliamentary forums before finalizing the budget.
The finance minister paid tribute to the speaker of the National Assembly for saving Rs5 billion in expenses. He also praised the Senate for reducing its expenditure by Rs1 billion.
Aurangzeb said these steps reflected a responsible approach toward public spending and fiscal discipline.
