Minister of Finance Shaukat Tarin announced a budget for this fiscal year. In which he allocated a sum of 900 billion Rs ($6 billion) for various development projects in the Fiscal year 2022.
He added that he has allocated this budget to the development department for the betterment of the economy in the upcoming year. The aim is to increase the number of large infrastructure projects by 40%, employment generation, and boosting the economy by 5 percent.
In addition to this, he stated, we need 2 million jobs every year and it can only be possible if we bring positive economic growth on generating more revenue and employment creation. He further added, boosting the economy is only possible if we get more revenues. Revenues can only be collected if we speed up the development projects.
Finance Minister Tarin added that the plan of 5% economic growth for next year is in line. He further stated that with the help of the International Monetary Fund’s (IMF) 4 percent economic growth projection and 6 percent in the year after tax authority revenue.