Govt to welcome proposals from EAC members for inclusion in budget, the finance minister says . PHOTO: REUTERS
ISLAMABAD: The Economic Advisory Council (EAC) on Tuesday was informed that the economic indicators have started showing stability and focus would be on increasing growth in future, Radio Pakistan reported.
The 6th meeting of the Council was held in Islamabad under the Chairmanship of Finance Minister Muhammad Ishaq Dar where he gave a brief overview of recent developments on the economic front.
The finance minister also gave an overview of the budget making process for the fiscal year 2015-16 and said that the government would welcome useful proposals from EAC members to be included in the budget.
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Dar informed that economic growth rate for the current year will be slightly lower than the target due to economic disruptions, lower prices in the commodity sector as well as unusually long winter having a negative impact on the crops.
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"The deficit target has been met and inflation curtailed to under five percent in the current financial year," it was said during the meeting.
The members of EAC gave proposals for development of key sectors of economy including energy, aviation, taxation, public expenditure, food security, trade competitiveness and social safety nets.
Governor State Bank of Pakistan Ashraf Mahmood Wathra, the chairman federal board of revenue and chairman board of Investment were in attendance of the meeting.
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