Budget 2022-23 represents 'significant improvement in several ways': PM Shahbaz

ISLAMABAD: Prime Minister Muhammad Shahbaz Sharif on Sunday said that the federal budget for the fiscal year 2022-23 represents "a significant improvement in several ways".

Taking to his Twitter handle, PM Shahbaz said that it has provided more educational opportunities for Pakistan's youth, particularly from Balochistan, and targeted subsidies for people struggling financially.

"More importantly, it has taxed non-productive assets of the rich," he added.

'Balanced, progressive, pro-people budget'

On  June 10, PM Shahbaz Sharif, while labelling the finance bill a "herculean task", congratulated Finance Minister Miftah Ismail on presenting a “balanced, progressive and pro-people budget” .

The premier told the nation that the finance bill will steer the country out of the “difficult” time it is going through.

“These are difficult times brought upon us by recent years of economic mismanagement. Through this budget, my government will steer our way out of these challenges by taking tough decisions while minimising the impact on vulnerable segments of the population,” said the premier.

He elaborated on how the government was hoping to “shield financially weaker citizens from economic hardships” by taxing the “financially stronger people”.

“We have allocated billions of rupees for targeted subsidies. This amount is in addition to Rs344 billion allocated for Benazir Income Support Programme. Only deserving people to get the subsidy,” said PM Shahbaz.

He added that the government has increased the salaries of its employees by providing a raise of 15% and merging the “ad hoc allowance in their basic pay”.