Measures underway to pass on benefits of economic policies to public: Ali Pervaiz Malik

Minister of State for Finance Ali Pervaiz Malik said Tuesday the government is swiftly taking measures to pass on the benefits of prudent economic policies to the public.

Addressing the media in Islamabad this afternoon, he mentioned various steps taken by the government for the provision of relief to people in the Federal Budget.

He said Prime Minister Shehbaz Sharif has taken special measures about solar panels.

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He said the government has introduced a contributory pension scheme for new inductions and the Armed Forces of Pakistan have also been asked to align themselves with the newly introduced contributory pension scheme to reduce the burden on the national exchequer.

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The Minister of State said investors’ trust is increasing while the stock market has also witnessed a historic boom.

Ali Pervaiz Malik said with the consultation of the World Bank, work on the privatisation of power distribution companies is also under process. He clarified that consumer protection would remain a core priority in the whole exercise.

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The Minister said under the austerity measures, the Prime Minister ordered to wind up Pakistan PWD and within the next few weeks, the curtailment of various departments will be ensured that are not yielding market-oriented results.

Ali Pervaiz Malik also stressed the need to bring stability to macroeconomic fundamentals through coordination and consultations with provinces.