ISLAMABAD: The government will make all necessary interventions in collaboration with international development partners for human resource development and socio-economic uplift of the nation.
This was agreed on by Federal Minister for Finance and Revenue Shaukat Tarin and Federal Minister for Economic Affairs Division Omar Ayub Khan during a meeting at the Finance Division on Tuesday. SAPM on Finance and Revenue Dr Waqar Masood, secretary Finance Division, secretary EAD and other senior officers also participated in the meeting.
While reviewing the foreign funding portfolio, the finance minister outlined the priority areas for financial and technical support. He emphasised the need for financing an agricultural package which will include the provision of commodity warehousing, cold storage facilities and irrigation water management to strengthen infrastructure for boosting agricultural productivity.
Similarly, foreign funding would be utilised for supporting social protection and skill development programmes to protect under-privileged groups of society and to empower youth by imparting valuable skills. It will also include swift processing of microcredit loans for youth empowerment.
Tarin further directed to focus on strengthening civil amenities such as provision of clean drinking water, solid waste management and other such facilities in under-developed areas. He expressed firm commitment of the government for socio-economic development in line with the Sustainable Development Goals (SDGs) to achieve a better and more sustainable future for the people of Pakistan.
Earlier, Khyber Pakhtunkhwa (KP) Finance Minister, Taimur Saleem Khan Jhagra, and Punjab Finance Minister, Makhdoom Hashim Jawan Bakht, also called on Shaukat Tarin.
Jhagra apprised the finance minister about KP’s commitment to streamline the pay and pension expenditure which takes the biggest chunk of the overall budget. Makhdoom Hashim Jawan Bakht briefed the finance minister about the overall fiscal position and upcoming budget considerations.
Tarin urged the provincial administrations to work out modalities to rationalise expenditure and divert savings towards socio-economic development in the province particularly amid the Covid-19 pandemic and after it.
He stressed to stimulate economic activity by rationalising workforce and harmonising tax structure and aiming at improving service delivery in the province.
While discussing budget proposals, the federal finance minister stressed that education and health must be given preference during the budget making exercise and encouraged a consultative process between the federal government and federating units for effective resource mobilisation in this regard.