Prime Minister Shehbaz Sharif says Budget 2023-2024 represents the beginning of the process to fix the economy's long-term ailments.

In a tweet today, he said the coalition government has prioritized the right areas that have the potential to spur economic growth, attract investment and make the economy self-sufficient.

The Prime Minister said making of the Budget (FY2023-24) was particularly a difficult task in view of the persistent challenges arising out of the floods-related relief and rehabilitation, global supply chain disruptions and geostrategic upheavals. He said never-ending headwinds of political instability created by Imran Niazi damaged the economy and created uncertainty, as the country remained on the boil for well over a year.

He said mindful of the impact of inflation, the government has provided relief to public sector employees and pensioners in the form of pay raise of up to 35 percent and 17.5 percent respectively, and increased minimum wage to 32000 rupees. 

He said a more balanced budget that levies no new tax could not have been possible within the existing constraints.

Shehbaz Sharif commended all those who remained part of this exercise and played their role in this budget-making exercise.

He said the economy direly needs reforms, which, in turn, can be undertaken in a stable political environment, for economic development is intrinsically linked to political stability.

He said it is here that the Charter of Economy appears to be the only way forward for our political parties to achieve prosperity for our people.