Federal Budget 2018-19 to be announced on April 27: Miftah Ismail

ISLAMABAD: Adviser to Prime Minister on Finance Dr Miftah Ismail on Friday announced that federal budget for the year 2018-19 would be presented in the National Assembly on April 27.

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“The budget will be presented on April 27 as the incumbent government’s tenure is completing on May 31, he said.

Miftah said the government had already consulted with parliamentary parties including PTI, PPP and MQM, and all were in agreement about the budget presentation date.

Commenting on energy sector achievements, the adviser said the government had added around 12,000 MW additional electricity in the national grid, which would be fully utilized in June.

Miftah said that in 2013 before their the price of petrol was 106 rupees and now it is 87 rupees.

He said the government initiated a number of power generation projects, which are yielding required results.

In FY 2013, the foreign exchange reserves had hit US$ 11 billion, which rose to US$ 24.5 billion in October 2016, but had since declined as a result of higher imports of growth enhancing capital equipment and machinery, he added.

Addressing a joint news conference, Minister of planning and interior Ahsan Iqbal said that country has witnessed tremendous progress in the energy sector and succeeded in eliminating terrorism, which had been affecting the national economy.

He further said that heavy investment had been also made in the country’s infrastructure, energy and industrial sectors under China Pakistan Economic Corridor (CPEC) which would result in giving boost to the national economy.

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