Islamabad : Minister for Finance Dr. Abdul Hafeez Shaikh has said the government has prepared a new growth strategy to accelerate the pace of GDP growth rate.
The Minister informed the National Assembly in a reply to a question that the new growth strategy focuses on productivity and skill development which help increase income of the people.
It also envisages reforms for different sectors of the economy to sustain high growth rate.
Dr. Abdul Hafeez Shaikh said the government has taken several steps to improve the income and living standard of the people.
It is focusing on creation of decent employment opportunities and human resource development.
For this purpose National Vocational and Technical Education Commission has been set up besides the size of lady health workers has also been doubled.
Under the Benazir Income Support Programme, cash grant of one thousand rupees is being disbursed monthly to the deserving families.
He informed the House that the government has increased salaries of the employees by hundred percent during the last three years. He said as a result of these steps, per capita income of the people has risen to 1254 US dollars.
To a question, Dr. Abdul Hafeez Shaikh said that 10984.2 billion rupees of foreign and domestic loans are outstanding against Pakistan.
He said the government is also trying to decrease debt to GDP ratio to fifty-eight percent by the end of this fiscal year.
For this purpose, reforms in the tax collection system will be implemented to increase our revenues.
The Minister said the budget deficit of current financial year has been projected at 4.7 percent as against 5.9 percent of GDP during 2010-11.
The budget deficit for the first three months of this fiscal year amounted to 1.2 percent as against 1.6 percent of GDP during the same period last year.
Responding to a question, Dr. Abdul Hafeez Shaikh said that two billion rupees allocated in the current budget for the provision of ten thousand tractors to the eligible farmers at subsidize rates.
He said one million ton of Urea is being imported to meet the requirement of the farmers. The government will provide a subsidy of thirty-three billion rupees on this count.