Jahangir Tareen lauds 'people-friendly' budget in meeting with PM

Shehbaz Sharif states Finance Bill includes measures to provide relief to public

Prime Minister Shehbaz Sharif met with industrialist and a member of the Economic Advisory Council, Jehangir Tareen, at the Prime Minister's Office on Monday.

During the meeting, Tareen praised the prime minister for presenting a business and people-friendly budget despite challenging economic conditions.

He congratulated PM Shehbaz on steering the economy in a positive direction. Also present at the meeting was former special advisor to the prime minister and a leader of the Istehkam-e-Pakistan Party, Awn Chaudhry.

PM Shehbaz mentioned that the budget includes specific measures to ensure the development of the export industry, guaranteeing prompt payments to exporters.

He emphasised that growth in the industrial, agricultural, and information technology sectors would strengthen the economy and create new employment opportunities.

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Another delegation of business leaders, including Shehzad Saleem, Zaid Bashir, Musaddiq Zulqarnain, and Shehryar Chishti, met with the PM in Islamabad.

The leaders commended PM Shehbaz for steering the national economy towards stability and creating a conducive environment for business and investment. They also informed him of the positive reception of the budget within the business community.

The delegation expressed optimism that the budget would positively impact business activities in the country. The PM stated that the country is moving in the right economic direction, and the budget includes measures to provide relief to the public.

He highlighted that business-friendly policies have stabilised the national economy and restored foreign investors' confidence. The government is actively working on implementing budget measures, with a primary focus on increasing national exports, he added.

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President Asif Ali Zardari signed the Finance Bill 2024-25 into law on Sunday after the National Assembly passed the budget with recent amendments.

The PML-N-led government introduced the budget a fortnight ago, sparking strong criticism from opposition parties, particularly the PTI, and some from coalition partner PPP.

Opposition parties, largely supported by the incarcerated former premier Imran Khan, rejected the budget, citing concerns over potential inflationary effects. Despite earlier boycotts, PPP ultimately decided to support the finance bill.

President Zardari formally endorsed the bill today under Article 75 of the Constitution, which specifies that the president cannot reject or object to a finance bill classified as a money bill.

The bill took effect from July 1 (today) as per the announcement from the President House.