Finance Minister Miftah Ismail stated on Saturday that the government has no choice but to make difficult decisions.
The finance minister stated during the post-budget press conference, flanked by State Minister of Finance Aisha Ghous Pasha and Information Minister Marriyum Aurangzeb, that the nation and history would not forgive them if Pakistan faced a situation similar to that of Sri Lanka.
Next year, the country will face a budget deficit of Rs4598 billion,” Miftah Ismail.
In terms of subsidies, he stated that electricity and gas subsidies cost the country approximately Rs1100 billion and Rs1600 billion, respectively. “The previous government-supplied costly LNG to consumers at subsidized rates,” the finance minister said, adding that such measures could lead to a default if not immediately halted.
He stated that the government was making necessary difficult decisions, and he asked the media to consider the current situation and avoid unnecessary criticism. “We are not taking this money that we have earned through difficult decisions to our home,” Miftah Ismail.
Miftah Ismail stated that the budget proposes collecting more money from wealthy segments of society rather than burdening the poor and middle classes.