Article Type

Article

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The annual budget is not only a statement of revenues, expenditures, fiscal deficit and government borrowings but also a powerful tool for efficient resource allocation and utilisation, equitable distribution of incomes and a signal to the private sector about the economy’s direction. The budget’s crucial element includes the speeches delivered by the federal and provincial finance ministers, which set the underlying policy framework. In present uncertain times where the tenure of the present government is limited, external economic environment is pernicious, political polarisation is at peak and international financial markets are not looking at Pakistan favourably, the importance of this year’s budget assumes critical importance. It would provide signals to the international financial community (institutions, credit rating agencies, bond markets and foreign investors), trading partners, domestic investors and businesses and market players that Pakistan’s economic management is on the right track. Market confidence has to be restored through policies outlined in the budget.

Publication Source

The News

Publication Date

6-10-2022

Pages

1-5

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