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ISLAMABAD: Finance advisor Hafeez Sheikh has directed all departments and ministries to reduce expenditure


May 16, 2020

According to details, preparations for the budget for the next financial year are underway. An important meeting was held under the chairmanship of Finance Advisor Hafeez Sheikh regarding the budget outlook. The meeting held at the Ministry of Finance discussed the budget matters for the new financial year Detailed discussions were also held in the context of the MF review.

The Finance Adviser said that in view of the impact on the economy, financial responsibility has to be exercised, all the Ministries and Departments have to come up with new budget proposals keeping in view the impact on the economy.

Hafeez Sheikh said that the issue of issuance of Shariah bonds should also be considered. A reduction in the policy rate will save Rs 50 billion in debt repayment companies. Happened

The Finance Adviser directed the Federal Departments and Ministries to reduce the expenditure and said that the surplus funds would be shifted towards Corona related needs and social security.


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