ISLAMABAD, Jul 3 (APP): Minister of State for Finance, Revenue and Power Ali Pervaiz Malik said on Wednesday that the government had adopted a challenging of economic reforms for long-term stability in the country.
Talking to a private news channel, he said that under the leadership of Prime Minister Shehbaz Sharif, Pakistan is on the verge of economic revival.
He said that performance of the stock exchange and reductions in inflation were the indicators of the positive impact of the government’s economic measures.
Additionally, he said that cabinet members, including prime minister, were foregoing their salaries and benefits as part of austerity measures.
The minister detailed several initiatives aimed at cutting government spending, including the reduction of the Public Sector Development Programme (PSDP) funding and a shift towards public-private partnerships.
The government was also undertaking a right-sizing exercise, eliminating redundant departments, and privatizing state-owned enterprises.
Furthermore, divisions and ministries rendered unnecessary by the 18th Amendment will be devolved to provincial authorities, he added.
Answering a question about the budget, he acknowledged that it was a difficult one, crafted with an understanding of the nation’s economic challenges.
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