Budget on June 11 to move economy towards stabilization, says Firdous Ashiq

ISLAMABAD: Special Assistant to Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan Tuesday said the next budget to be presented on June 11 would focus on moving the economy towards stabilization, reducing fiscal deficit through mobilization of revenue and managing of current account deficit by reducing imports.Briefing about cabinet decisions here at a press conference, Firdous said expenditure would be brought under control in the upcoming budget setting path for public debt reduction.Vulnerable sections of society would be protected and top priority would be to reduce financial burden on common people, she added.Dr Firdous said Advisor to Finance Dr Abdul Hafeez Sheikh presented before the cabinet outlines of the next budget.The Special Assistant said further steps would be taken to improve growth prospects and create jobs, adding the provincial governments which through National Finance Commission Award got a major share of resources would be taken on board to tackle the challenges faced on the economic front.She said ultimately the economic roadmap given by the government stabilized value of rupee against the dollar and put an end to uncertainty and rumours affecting stability of the economy.Stock exchange had responded positively setting new records, she observed and adding the economic measures would ultimately bring down inflation minimizing economic difficulties of the people.She said the government would announce a comprehensive and well defined trade policy to increase exports, reduce imports and balance the trade deficit.The focus would be on revival of sick industrial units.In the past, interests of industries were not protected under the Free Trade Agreement with China which created a consumer economy that led to expansion in imports, she added.