A first for Pak in 61 years: Parliament to debate defence budgetJune 1st, 2008 - 8:41 pm ICT by admin
Islamabad, June 1 (ANI): Pakistan will create history of sorts, with the country’s Parliament deciding to discuss and debate the defence budget for 2008-09.
According to Finance, Revenues and Investment Minister Syed Naveed Qamar, this debate will be taking place for the first time in Pakistan’s history since its creation in August 1947.
Qamar said the defence budget would be cut and development expenditures would be increased to meet the country’s needs. He said that this year’s budget would focus on providing relief to the poor and addressing the welfare of low and fixed income groups. The government will provide Rs.40-50 billion in subsidies to the low-income groups.
Developing the agricultural and manufacturing sectors, and the construction of water reservoirs in the country have been highlighted as priorities for sustainable economic development, Qamar said, adding that the next fiscal year would be one for the consolidation of the economy.
According to the Daily Times, the agriculture sector will be provided incentives for its development, which will not only help achieve food security but also help to improve exports and limit food imports in the years to come.
He said that the government was faced with different challenges and would be able to address them with the help of the business community and the population. (ANI)
Tags: agriculture sector, business community, defence budget, development expenditures, fiscal year, fixed income, food imports, food security, incentives, income groups, manufacturing sectors, naveed, pakistan, parliament, priorities, sorts, subsidies, sustainable economic development, water reservoirs, welfare