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Print Print 2023-05-29

Budget FY2023-24: PM not putting economic slump into perspective?

  • Constitutes a nine-member committee to propose pro-poor measures in Federal Budget 2023-24
Published May 29, 2023

ISLAMABAD: Prime Minister Shehbaz Sharif has constituted a nine-member committee under the chairmanship of Minister for Defence Khawaja Asif sans any representative from Finance Ministry to propose pro-poor measures in the Federal Budget 2023-24, well informed sources told Business Recorder.

The members of the Committee will comprise Minister for Interior Rana Sanaullah Khan who is also President PML-N Punjab, Minister for Railways Khawaja Saad Rafique, Minister of State for Petroleum and Natural Resources Musadik Malik, SAPM on Government Effectiveness Dr Jehanzeb Khan, SAPM on Youth Affairs Shaza Fatima Khawaja, Qaiser Ahmed Sheikh, Chairman National Assembly Standing Committee on Finance and Revenue, Ahmed Umair, a progressive farmer, and Asif Peer, CEO/ MD, System Limited- a well renowned IT company.

However, neither Finance Minister Ishaq Dar, who is being criticized for further damaging the already vulnerable economy, nor Minister of State for Finance Dr. Ayesha Ghaus Pasha or Secretary Finance has been taken made members of the Committee.

FY2023-24 Budget

The Committee will deliberate and suggest pro-poor measures in the budget 2023-24 with main focus on improving the living conditions and livelihood of vulnerable segments.

The Terms of Reference (ToRs) of the Committee shall be as follows: (i) to suggest pro-poor and public-friendly measures for inclusion in the upcoming budget 2023-24; (ii) to recommend measures to provide buffer and protect the masses from prevailing high inflation; (iii) to examine adequacy of targeted subsidies for the poor and propose plan to further expand their scope and coverage; (iv) to suggest measures for youth empowerment through provision of business and employment opportunities and; (v) any other issue, deemed relevant/ appropriate for consideration.

The Committee may co-opt any person as per requirement for the purpose of this task.

The sources further stated that Prime Minister Shehbaz Sharif will also start budget meetings with individual ministries from Monday (today).

According to a schedule issued by the Principal Secretary to Prime Minister, Dr Syed Tauqeer Shah, Prime Minister has desired that concerned Ministries shall, after deliberation and consultation with stakeholders, make a presentation on budgetary proposals relevant to the business allocated to each Ministry as per the following schedule, i.e., on May 29, 2023 (Monday) Ministry of National Food Security and Research, Revenue Division (Revenue Measures) and Information Technology whereas Ministry of Planning, Development and Special Initiatives, Ministry of Energy (Power and Petroleum Division), Ministry of Finance(current expenditure, i.e., salary, pension etc, subsidies and grants) and Ministries of Commerce (MoC) and Industries and Production (industrial growth including SMES, exports, etc.) will present their plans for the FY 2023-24.

The following participants will attend meeting on Agriculture: Minister for Finance & Revenue, Minister for NFS&R, Minister for Interior, Minister for PD & SI, Advisor to PM on Establishment, SAPM Government Effectiveness, SAPM on Finance, Secretary Finance, Secretary NFS&R, Secretary Industries ,Secretary Power, Chairman FBR, Secretary PD &SI, Governor SBP, Sector Experts/ Agriculturists, Amir Hayat Bhandara, Agriculturist, Pakpattan, Mehmood Nawaz Shah, Member FPCCI Board, Vice Chancellor, University of Agriculture , Faisalabad, Afaq A. Tiwana, Chairman Agrimall (Pvt) Ltd and Rana Muhammad Ajmal Khan, MNA.

The list of participants of revenue measures proposed in budget 2023-24: Minister for Finance & Revenue, Minister for PD & SI, Minister for Defence, Minister for Commerce, Advisor to PM on Establishment, SAPM Government Effectiveness, SAPM Finance, SAPM Revenue, Secretary Revenue Division/ Chairman FBR, Secretary Finance, Secretary Industries, Qaiser Ahmed Sheikh, sector experts/ industry representatives, Ashfaq Yousaf Tola, Mian Muhammad Mansha, Nishat Group, Muhammad Ali Tabba, Lucky Group, lrfan lqbal Sheikh, President FPCCI, Kashif Anwar, President LCCI and Muhammad Tariq Yousaf President KCCI.

Participants of budget proposals related to IT & Telecom Industry is as follows: Minister for Finance & Revenue, Minister for IT & Telecom, Minister for PD& SI, Advisor to PM on Establishment, SAPM Government Effectiveness, SAPM Finance, SAPM Revenue, Secretary Finance, Chairman FBR, Governor SBP, sector experts/ industry representatives Chairman P@SHA Saleem Ghori, Chairman Netsol Technology Naseer Akhtar, CEO Infotech (Pvt) Limited, Nadeem Hussain, Pakistan Fintech Network and Jehan Ara CEO Katalyst.

The participants of development budget (PSDP-2023-24) will be as follows: Minister for Finance & Revenue, Minister for PD& SI, Advisor to PIM on Establishment, SAPM Government Effectiveness, SAPM on Finance, Secretary PD & SI, Secretary Finance, Secretary Communications, Secretary Water Resources, Secretary Cabinet and Secretary Power Division.

The following participants will present their viewpoints on power and petroleum sectors: Minister for Finance & Revenue, Minister for Power, Minister of State for Petroleum, Shahid Khaqan Abbasi, Minister for Defence, Minister for Commerce, Advisor to PM on Establishment, SAPM Government Effectiveness, SAPM Finance, Secretary Finance, Secretary Power, Secretary Petroleum, Secretary Commerce, and sector experts/ industry representatives to be proposed by Power & Petroleum Division.

The following participants will share their opinion on current expenditure (salary, pension, grants and subsides): Minister for Finance & Revenue, Minister for PD &SI, Minister for Federal Education & PT, Minister for Poverty Alleviation, Minister for Power, Minister of State Petroleum, Advisor Kashmir Affairs, Advisor to PM on Establishment, SAPM Government Effectiveness, SAPM Finance, Secretary Finance, Secretary Poverty Alleviation, Secretary Power and Secretary Petroleum.

Participants of meeting on industrial growth (including SMEs, exports, etc., will be as follows: Minister for Finance & Revenue, Minister for Commerce, Minister for Industries & Production, Minister for PD & SI, Advisor to PM on Establishment, SAPM Government Effectiveness, SAPM on Finance, SAPM Qaiser Ahmed Sheikh, Secretary Finance, Secretary Industries & Production, Chairman FBR, Governor SBP, industry representatives, Shahzad Saleem Nishat Chunian Group . Musadiq Zulqarnain Interloop Group, Gohar Ejaz APTMA, Zubair Motiwala CEO TDAP, Fawad Anwar Al-Karam Textile Mills and Haji Bashir Ali Mohammad of Gul Ahmed Textile Mills.

Copyright Business Recorder, 2023


Comments are closed.

Aadil May 29, 2023 05:28am
A man who is qadyani and never accepted constitution of Pakistan wanted to be finance minister of Pakistan having no practical experience introduced by PTI allegedly the most pathetic government of last 20 years. I my opinion he was advisor of the then PTI govt and performed well to be the Economic Hitman for Pakistan. Now Pakistan is going back to 2018 by restarting CEPEC and saying good bye to IMF with help of its friends. Ruining the efforts of foreign agents. Modern economy and 1950s economy has told one thing if you borrow loans on conditions to raise prices specially cost of capital goods the time will come so repayment will be impossible. 5% annual growth was witnessed in 2017 to 2019 but idiots ruined it. I am hoping for better because Dar has done it before.
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Mohammad Anwar May 29, 2023 07:31am
Representation from middle class society should be considered in pre budget meetings to cosoder their views
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Tulukan Mairandi May 29, 2023 09:43am
Excellent. Fast track the route to default
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Aamir Latif May 29, 2023 10:40am
PM should get out of this poor man's budget syndrome, instead be focused to survive outside IMF, reduce indirect taxes that is a killer for those paying taxes to suffer at the cost non tax payers.. This filer and non filer nonsemce should go, no where in the world, tax system runs like this. Instead fine and prosecute non tax filers of they are not paying taxes... Petroleum products back bone of country logistics should be reviewed from revenues collected with high prices but lower consumption versus lower prices, increased consumption and revenues... 47% decline as reduction in Petroleum consumption warrants surgical review
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KU May 29, 2023 10:53am
The 5% of the nation will decide the economic future of their own interests, while the rest expect nothing new or remarkable that will change their lives for the better. Current stats show 100 million below the poverty line and steadily growing, and over 8 million without employment, and also gradually increasing. Expecting a miracle or at least good news is unrealistic and we will be talking about the same issues one year from now. Another tax reforms surprise is in the offing and led by Ashfaq Tola, still out of public news but is suspected to propose new taxes that will further cement problems for industry and reliance on a rent-seeking economy. The obvious solutions to the revival of the economy are ignored and non-development expenses rule the minds of the monarchy.
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Rebirth May 29, 2023 04:09pm
With the PTI going rogue and the PDM becoming unpopular to a point that they’ll probably never win any elections, the country has now become devoid of any political party or any political representation. The model applied in Punjab and KP must be extended to the federal government and Baluchistan. Karachi is already being run by administrators. Barring Sindh, of course because it’s an isolated “island” within Pakistan like North Korea but apparently serves foreign interests. It isn’t clear why the Punjab and KP parliament, the respective lodges and other such massive homes haven’t yet been leased to meet our expenses and pay debts. To save Pakistan, the same model is needed in Islamabad and Baluchistan. It’ll pave the way to impose an economic emergency. The Senate cannot be dissolved legally. Although, there may be ways to achieve the dissolution of the Senate, leaving just the President in power because he is the executive as per the constitution, who will handpick cabinet members.
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K May 29, 2023 04:42pm
@Aadil, you are the gutter filth of Pakistan. You represent the failure of Pakistan. A slave to murderers and criminals. Khan era 6% GDP, highest ever export growth & highest industrialisation in history. Patwari are uneducated people so not hard to understand. I am sure your parents are also thieves & criminals thus fans of Sharifs.
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Carl May 29, 2023 07:17pm
@Rebirth, A bloody civil war awaits due to blunders and egos of men in uniform!
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zh May 29, 2023 08:52pm
It never ceases to amaze me how Shehbaz Sharif continues to surpass his own level of foolishness. Recently, he formed a committee to propose the budget, but omitted the finance minister and any representatives from the finance ministry.
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