Inflation dip testament to prudent handling of economy: Aurangzeb

KARACHI: Federal Minister for Finance Muhammad Aurangzeb Friday said that significant measures were being implemented to strengthen the national economy, adding that the initial results are evident as the inflation rate has dropped to a single digit.

This assertion was made by the Finance Minister during discussions with Chief Minister Sindh Syed Murad Ali Shah in a meeting at the CM House.

The meeting was attended by Chief Secretary Asif Hyder Shah, Federal Secretary of Finance Imdadullah Bosal, PSCM Agha Wasif, and Provincial Secretary Finance Fayyaz Jatoi.

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During the meeting, the chief minister told the federal finance minister that the Sindh Revenue Board has been given a Rs350 billion collection target during the current financial year. Similarly, the mechanism to collect agricultural tax was being strengthened.

The finance minister, Aurangzeb, stated Sindh CM took up the issue of federally funded projects (PSDP) in Sindh for which funds were not being released, as a result, even the ongoing project of Jamshoro-Sehwan road to which his government has also contributed Rs7 billion was going on at a slow pace.

He also discussed the dualisation of the Mehran Highway. The federal finance minister assured the CM that the federally funded projects would be looked after properly.

It was agreed that the federal and provincial governments would work together to strengthen the national economy by promoting industrialisation, the agriculture sector and attracting investment.

The projects launched in PPP mode by the Sindh government were lauded in the meeting. The CM said the Thar coal mining project was the largest project launched in PPP mode. Currently, the Malir Expressway and Ghotki-Kandhkot bridge on the River Indus are major projects going in PPP mode, the CM said.

The chief minister and federal finance minister agreed to work together to strengthen the economy.

Copyright Business Recorder, 2024