Islamabad (Lord Media): Finance Minister Muhammad Aurangzeb stated that there have been no changes to the budget figures, attributing any confusion to misinterpretation. Addressing the National Assembly, he mentioned that most recommendations from Senate and National Assembly committees are being incorporated into the budget. Figures from the fiscal year 2018 are also included in the charts. Opposition leaders Saleem Mandviwalla, Naveed Qamar, and committees reviewed the budget proposals, with thanks extended to allies for their cooperation.
The Finance Minister highlighted improvements in economic indicators, noting a 6% growth in large-scale manufacturing. Exports are on an upward trend, with IT exports increasing. Freelancers have set a new record, and the current account is in surplus with record remittances from expatriates. A target of 41 billion U.S. dollars in remittances is expected. Freelancers earned 1.6 billion U.S. dollars in foreign exchange over the year. Allocations include 1.7 billion rupees for crop insurance and 7 billion rupees for agricultural cold storage.
Additionally, taxes in the housing and construction sectors have been reduced, providing relief to salaried individuals. Taxes on life-saving medicines have also been decreased. Most recommendations from the Senate and National Assembly committees are being incorporated into the budget. The Speaker of the National Assembly was commended for saving 5 billion rupees, while the Senate also reduced its expenses by 1 billion rupees.
