ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin on Saturday said the main focus of the inclusive growth-oriented federal budget for the fiscal year 2021-22 was to uplift the poor so that they would not have to wait for trickle-down effect of economic progress.
Poverty-stricken people have been waiting for the last 74 years, as they remain deprived of houses, health facilities and business opportunities, he said while addressing the post-budget press conference.
The government, he said, was committed to helping the deprived and the poor and facilitating them with different initiatives to upgrade their living standards without waiting for the trickle-down effect.
The budget would utilize the ‘bottom-up-approach’ for improving the living conditions of around 6 million low-income households and every household would be provided Rs 500,000 interest-free business loan. Every farming household would be given interest free loan of Rs 150,000 loan for every crop, interest fee farming loan of Rs 250,000 and interest free loan of Rs 200,000 for buying tractor and agricultural implements.
Tarin said low-interest bearing housing loans of up to Rs 2 million would be provided to help the people buy houses, besides the Sehat Card to every household to facilitate them in time of need.
Moreover, one person from every household would be imparted free technical training to ensure employability so that the family can earn respectable income, he added.
The minister said the identification of the poorest households would be done through a non-political survey all across the country. “We will not play politics with the poor,” he added.
The government’s primary focus in that regard, he said, was to promote exports and take their volume from 8 percent at present to 20 percent of the Gross Domestic Product (GDP). There was dire need to enhance exports for economic sustainability, he stressed.
The minister said for the first time, a growth-oriented budget was presented, including innovative measures to enhance revenue collection, expansion of incentives for exporters and abolishing duty on local industry, including automobile sector.
The minister said it was not an easy task; however, he was thankful to Almighty Allah for giving the incumbent government the vision to work for the poor.