Prime Minister Muhammad Nawaz Sharif chaired a special Cabinet meeting today at PM Office in which Federal Budget 2014-15 and Tax proposals were approved.
Prime Minister said that the major objective of the Federal Budget is to provide relief to the common man as well as increase in the tax base. “We took some difficult decisions to facilitate citizens and the Government had to bear the burden” said the Prime Minister.
Emphasizing the challenges being addressed in the budget, the Prime Minister said that the focus is on accelerating investment, increase in development expenditure, export promotion, facilitating private sector investment, generating employment opportunities, restructuring of public sector corporations and expansion of social safety network. He added that measures to promote industry and agricultural sector are main features of our Budget. He also directed the tax authorities to lessen the tax burden on lower strata of the society.
Earlier, the Cabinet was briefed in detail by Minister Finance Mr. Ishaq Dar, Secretary Finance Division Dr. Waqar Masood Khan and Chairman Federal Board of Revenue (FBR) Mr. Tariq Bajwa gave a detailed briefing on the Budgetary and Tax proposals for FY 2014-15.