The caretaker federal ministers in Pakistan held a press conference to discuss the country’s economic situation. They acknowledged the challenges inherited by the caretaker government but expressed hope for economic recovery. The Finance Minister mentioned a decline in the consumer price index as a positive sign.
The ministers also highlighted improvements in the productive sectors, such as agriculture and industry. They pointed out increased cement sales and stated that the services sector is vibrant. The government is working to attract foreign direct investment.
In terms of the gas sector, the Power Minister highlighted the burden of circular debt, which stands at Rs2.9 trillion. To address this, the government proposed raising gas tariffs for all consumers. The aim is to promote the gas industry and create a more sustainable pricing mechanism.
Regarding public sector spending, the Finance Minister acknowledged the challenges resulting from the devolution of powers to the provinces. The government will be revising federal and provincial development plans and may implement an “across the board cut” in provincial development programs to create a primary surplus.
Overall, the caretaker ministers acknowledged the challenges facing the country but expressed optimism for economic recovery while warning of necessary reforms and tariff hikes in the gas sector.
*Image Source: Dawn News*
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