Dar for keeping fiscal deficit within limit of four percent

Finance Minister Senator Ishaq Dar Tuesday said the government was focused on further improving the key macroeconomic indicators, including the investment-to-GDP and tax-to-GDP ratios. Chairing a meeting to review macroeconomic indicators, he said after having achieved macroeconomic stability, the government was determined to attain higher, sustainable and inclusive economic growth.

He directed that steps must be taken for keeping fiscal deficit within the limit of 4 percent for the next fiscal year and thereafter maintaining it at a maximum of 3.5 percent as prescribed in the amended Fiscal Responsibility and Debt Limitation Act.

He reviewed the status of various reforms and initiatives under implementation by the finance division, and directed the officials concerned to undertake all necessary measures to expedite their implementation for successful completion within the given timelines.

The minister reiterated the government’s resolve to continue on the path of economic reforms programme that was articulated at the beginning of FY 2013-14, and which had been successfully pursued in the last three-years. He observed that strong economic reforms already implemented by the government would increase economic opportunities and lead to higher economic growth. Earlier, Finance Secretary gave a detailed briefing to the minister on the current status of various macroeconomic indicators. The meeting was also attended by Secretary EAD and senior officials of the Ministry of Finance.