ISLAMABAD: The Federal Cabinet on Tuesday endorsed budget strategy paper (BSP) 2015-16.
Prime Minister Nawaz Sharif chaired the meeting which discussed state of economy and proposed targets for the next financial year.
Secretary Finance Dr Waqar Masood Khan gave briefing on BSP which provides guideline for strengthening national economy, streamlining tax system to broaden its base and ensuring the maximum relief to the common man.
The Cabinet meeting took note that while benefits of mega projects in the pipeline will start unfolding in next 5-10 years, immediate measures are needed to strengthen the benefits of recent stabilization measures with the help of private.
Nawaz Sharif praised the economic team lead by Ishaq Dar, key economic indicators have improved during last two years.
While addressing to Federal Cabinet, Preimer said, ” The next budget should focus on providing maximum relief to the pepole so that they can also reap the fruits of stability in the country’s economy.
“Efforts are under way to reduce tax rates and duties and broaden the tax base to increase revenue collection. This would encourage people to willing pay their taxes”, Sharif further added.