Federal cabinet approves Budget Strategy Paper for next fiscal year

ISLAMABAD: The Federal Cabinet on Tuesday presented the Budget Strategy Paper for Financial Years 2018-19 to 2020-21, Radio Pakistan reported.

The paper, presented by the cabinet's finance division, is based on four broad targets, including sustained growth momentum, ensuring fiscal consolidation, managing balance of payments and ensuring debt sustainability. 

The meeting, chaired by Prime Minister Shahid Khaqan Abbasi, also briefed the participants about the macro-economic indicators of current FY 2017-18.

The finance secretary told the meeting that the recently announced Economic Reforms Package, including lowering tax rates, widening tax base, real estate reforms, local amnesty and tightening of foreign exchange regime, will help increase revenues and reduce deficit.

The prime minister on the occasion said that sustained income and revenue streams, instead of obtaining loans, will benefit the country.