CPEC will end poverty in Pakistan: Shehbaz Sharif

Islamabad: Prime Minister Shehbaz Sharif on Friday afternoon said the China Pakistan Economic Corridor (CPEC) will end poverty in Pakistan.

In a series of tweet, PM Sharif stressed that work on the CPEC projects must be sped up. “The Special Economic Zones under the CPEC project would increase employment, expand business and end poverty,” he added.

The PM remarked that it would be miracle to steer the country out of immense challenges. “The government is securing the interest of 220 million people,” he contended.

The PM congratulated Federal Minister for Finance Miftah Ismail and his entire team on the presentation of a balanced, progressive and pro-people budget.

“Making a budget in financially challenging times with so many constraints is no less than a herculean task. The government has increased funding for Benazir Income Support Programme. Benazir scholarship programme has been extended to ten million students. Zero tax has been announced for import of agricultural machinery and implants. This major step will enable our farmers & agriculture to progress,” stated.

The PM noted that the government had reduced tax on import and distribution of solar panels to zero.

“The government had also decided to tax non-productive assets of the rich including 5% tax on purchase of second property and increase in tax on luxury cars,” he observed.

PM Sharif further said in difficult economic circumstances, the coalition government had presented the best possible budget which showed its sincerity and capability.

He thanked the government allies, members of the cabinet and the business community for giving their precious suggestions, opinions and guidance.

The PM said the budget was reflective of fiscal discipline, tax reform, bold targets and relief for the salaried class.

Earlier in the day, Federal Minister for Finance and Revenue Miftah Ismail presented national budget worth more than Pakistani Rs 9,000 billion for the fiscal year 2022-23.