Government Reduces Spending, Increases Revenue through Taxes: Minister Musadik Malik

Islamabad: Federal Petroleum Minister Musadik Malik stated that the government has reduced its expenditures and increased revenue through taxes. Speaking at a press conference, he emphasized overcoming political hurdles for progress, highlighting the need for hope to sustain any nation. “We have not made our children hopeless,” he added.
Malik outlined three priorities of the Prime Minister: providing business opportunities to youth, ensuring employment, and curbing inflation. He noted a significant improvement in economic growth rates, particularly in agriculture and industry sectors. He highlighted a record increase in tractor sales and a substantial decrease in inflation rates, now at 12% from 38% last year.
Regarding household expenditures, he mentioned a reduction in inflation from 40% to 2% in food and beverage items. He also allocated substantial funds for the poor through social welfare programs, with record investments in development projects aimed at infrastructure and economic stability.
Malik addressed concerns about corruption, asserting that combating corruption is crucial for Pakistan’s integrity. He referenced international concerns about Pakistan’s nuclear program, urging vigilance and national unity.
The minister concluded by reaffirming the government’s fiscal discipline and improved economic indicators, echoing global confidence in Pakistan’s stability with an 8.1% increase in foreign direct investment.