Budget 2017-18 to have sound impact on economy: PM

ISLAMABAD: Prime Minister Muhammad Nawaz Sharif on Friday described the federal budget for the fiscal year 2017-18 as very balanced and good, and said it would have sound impact on the country's economy.

Talking to newsmen here after the presentation of federal budget in the National Assembly, he said special emphasis had been laid on the poor in the preparation of the budget, and they have been provided relief.

He said appropriate funds have been allocated for various ongoing and proposed power generation projects to address the electricity crisis on a permanent basis.

PML-N govt presents fifth budget with Rs5.1 trillion outlay

Finance minister began speech after opposition leader's remarks criticising the government

Budget 2017-18: Govt employees, pensioners get 10% increase

Finance Minister Ishaq Dar also announced 10% increase in the pension of retired employees, adding that ad-hoc allowance will also be given on basic salary of government employees

Measures have also been proposed for the betterment of agriculture and growers, he added.

To a question, the Prime Minister said, the next budget would also be presented by the PML-N government.

Earlier, the Pakistan Muslim League – Nawaz (PML-N) government presented its fifth and possibly last budget before general elections in 2018, earmarking a total of Rs 4,757 billion in expenditures for the next fiscal year.

The GDP growth rate was 5.3% in the last fiscal year — highest in ten years, he stated, adding that it is for the first time that Pakistan's economy has grown to over $300 billion. "This shows the strengthening of the economy," said the finance minister.