ISLAMABAD: Pakistan is currently facing several economic challenges, including accelerating inflation, large external deficits, exchange rate depreciation, declining foreign exchange reserves, and mounting uncertainty. In addition, the prevailing global economic situation is also posing risks to the domestic economic outlook.
The present government has inherited an economy with growing macroeconomic imbalances that have brought Pakistan to the brink of financial collapse. To overcome this, the present government has taken steps in a short time to strengthen the economy, price stability, and maintaining the sustainability of the external & fiscal sectors through various immediate measures.
The present government is preparing the budget for the next financial year 2022-23 and it is the vision of Prime Minister of Pakistan to make a progressive, development and people friendly budget by fostering public participation in budget making. Therefore the present government desires to partner with the business sector to ensure the budget reflects the expectations of the private/business sector and the public. The private sector is the backbone of the economy and has the opportunity for the public and private sectors to contribute for the development of the economy of the country.
To sensitize the private/business sector and incorporate their valuable input and suggestions, a pre-budget conference on business, agriculture and IT has been planned on 7th June, 2022. The conference will provide opportunity to renowned businessmen, agriculturists and IT experts to deliberate, exchange new ideas and present recommendations on IT, Agriculture, Textile, Business and Export sectors for incorporating in the next budget.
The Prime Minister of Pakistan will address the Conference. It is the aim of the Government to bring an inclusive pro- public budget that will steer the economy onto a higher, sustainable, and inclusive growth path and provide an opportunity for the public and private sectors to contribute in the development of the country in these challenging and pressing times.
Copyright Business Recorder, 2022
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