#budget2024 #inflation #pakistan #specialtransmission
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Follow the ARY News channel on WhatsApp: https://bit.ly/46e5HzY
Subscribe to our channel and press the bell icon for latest news updates: http://bit.ly/3e0SwKP
ARY News is a leading Pakistani news channel that promises to bring you factual and timely international stories and stories about Pakistan, sports, entertainment, and business, amid others.
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NewsTranscript
00:00I like the government, I don't like the government.
00:02Whether I like it or not.
00:03But the attempts that have been made,
00:05have been made for the benefit of someone,
00:07for the benefit of Pakistanis and Pakistanis.
00:09So what can I say in front of that?
00:11Should I just curse them?
00:12I can't do that, right?
00:13It's not about being investable.
00:15It has to come through the SIFG.
00:17The rest is on me, on some other political party,
00:20or on political people.
00:22It's been a year since he became the SIFG.
00:24So we should be very sure about it.
00:26We are certain.
00:27Hmm, he's saying continue.
00:28Thank you.
00:29Mr. Wadah, thank you.
00:30I would like to...
00:32Mr. Sohail is with us.
00:34It reminds me that last year,
00:36it was around the same time,
00:38when we were talking about the economy.
00:43It's said that in Pakistan,
00:45the current situation has been going on for many years.
00:49But everything is the same.
00:51Do you have reasons to believe that
00:53the next financial year will be better than the previous one?
00:55This is a very open question.
00:56Mr. Sohail, let me be precise.
00:58Let's talk about debt repayment.
01:04We've heard that by July,
01:05$10 billion will be given.
01:07$2 billion will be given.
01:08$8 billion will be rolled over.
01:10Somewhere around $6-8 billion will be received from IMF.
01:14So if I talk to you overall,
01:16keeping this debt issue in mind,
01:19do you have reasons to believe that
01:20the next financial year will be better than the previous one?
01:26Bismillahir Rahmanir Rahim.
01:27Thank you, Mr. Wasim.
01:29If we take this assumption,
01:32that Pakistan's relations with the IMF have been better
01:37than the previous one year,
01:39and if you also feel the same,
01:42then the answer to your question is that it will be better.
01:46By better, I don't mean that
01:48unemployment issues will be solved in Pakistan
01:50or poverty will end.
01:52But in relative terms, it will be better.
01:54Not only this,
01:55I think last year was also better in relative terms.
01:58The GDP growth was negative.
02:00The inflation has decreased.
02:04Mr. Zubair has raised one point,
02:08investment to GDP.
02:09Investment to GDP has been reduced.
02:12When you increase interest rates,
02:14when you stabilize the currency,
02:18and when you tighten it,
02:20the investment will be reduced.
02:22But this stabilization has been very effective.
02:26It has a very negative impact on the economy.
02:30But it was designed.
02:32In the history of Pakistan,
02:34I think it will be the first time
02:36that Pakistan is going to surplus its current account
02:39and Pakistan is going to surplus its primary account.
02:42If you do this in America,
02:45then there will also be austerity,
02:46there will also be unemployment.
02:47And not to forget,
02:48this is not a very old thing.
02:49When a former Prime Minister, Mr. Khan,
02:51used to explain in simple words,
02:53I am not saying that he was right,
02:56but it was a part of his political narrative
02:58that the biggest problem of the economy
03:00is the current account deficit.
03:01Because when it happens,
03:02so much import and export happens.
03:04You are sending so much outside,
03:06you are ordering so much inside,
03:07so much difference has come,
03:08so this happens and this happens.
03:09I think that the rulers,
03:12whether they are political or non-political,
03:14as you used the word,
03:16now they have also understood that
03:18by increasing the GDP by 6%,
03:20it is better than deficiting the current account
03:22of $18 billion,
03:24that in the next 2-3 years,
03:26you should surplus the current account,
03:28tighten it,
03:29which will stabilize the economy,
03:33it will be more distant and inclusive
03:37rather than one time.
03:40So if you go back to the first question,
03:42I am hopeful that if the IMF comes on board,
03:45then the next year will be better.
03:47It is true that last year,
03:49we live in cities,
03:50we feel that the situation is bad,
03:52and the situation is bad,
03:53because industrial growth has been minused,
03:55our contact with urban people
03:57is with industrial growth,
03:58agricultural growth has been very good,
04:00but the government that is ruling next year,
04:02we are also estimating that
04:03there may not be much growth in agriculture,
04:06it will be in large-scale manufacturing,
04:09so its emperors will be in cities to some extent.
04:12Let's take a short break.
04:13So they say that this year,
04:15they are quoting from the numbers,
04:17that it is better than last year.
04:19Of course, GDP growth was at minus,
04:20now it is at 2.4%,
04:21which is less than the target,
04:23but 2.4%.
04:24Next year, they have set a target of 3.6%.
04:27Agriculture, they say,
04:28in Dehi area,
04:29the agriculture sector has grown up to 6%.
04:31Next year's target is 2%.
04:33If it goes down a bit, then it is fine.
04:35But they say that
04:36if the industrial sector grows more,
04:38then it will have an impact in urban areas too.
04:40But they say one thing,
04:42that if the dealings with the IMF are set,
04:44then after the break,
04:45they will come up with this innocent question,
04:47that the IMF program has not been approved yet,
04:49we are expecting a game between 6-8 billion dollars.
04:52Of course, the IMF will not give us to earn rewards,
04:54it also has a framework,
04:56it also has some desires.
04:57So what we are saying again and again,
04:59that if the IMF is done,
05:00then this will be good,
05:01so what is hidden behind that if?
05:03What does the IMF need in this budget,
05:05due to which the possibility of
05:07good dealings with the IMF will increase?
05:09Does it need more tax?
05:10Does it need more tax in which industries?
05:12Or is it not their problem,
05:13that it should be in which industries?
05:14It is our problem.
05:15They say that this much increase is needed.
05:16Let's talk about this issue,
05:17that what does the IMF need?
05:18After the break.
05:27Welcome once again,
05:28to the budget transmission of ARY News,
05:30where from now on,
05:31after 45 minutes,
05:32an economic survey will be presented.
05:34The Minister of Finance of the government will tell,
05:36that in this financial year,
05:37which will end on 30th of June,
05:39how did the government perform?
05:40But till now,
05:41you can see this news.
05:42The budget of Pakistan,
05:43in total,
05:44how much is it?
05:45Rs. 18,000 billion.
05:47What is the interest rate?
05:48Approximately Rs. 10,000 billion.
05:49Rs. 9,787 billion to be precise.
05:51Approximately 50%.
05:53According to the rest of the NFC,
05:54the province will be given Rs. 7,500 billion.
05:57The budget for defence,
05:58is estimated at Rs. 2,280 billion.
06:00This is the reason for the current deficit.
06:02Then,
06:03the salary of government employees,
06:04and for pension,
06:05Rs. 1,000 billion is required.
06:07So,
06:08the question is,
06:09how will the government pay,
06:10for the local loan and interest?
06:12For the Benazir Income Support Programme,
06:14Rs. 560 billion is required.
06:16The budget for the ministries and courts,
06:18is estimated at Rs. 850 billion.
06:20According to the government,
06:22the development plans,
06:23Rs. 1,400 billion is required.
06:25Subsidies,
06:26are being kept for more than Rs. 1,400 billion.
06:29So,
06:30if you do a simple math,
06:32and for the salary of government employees,
06:34and for pension,
06:35Rs. 1,000 billion is required.
06:36So,
06:37if you do a simple math,
06:38and for the salary of government employees,
06:39and for pension,
06:40Rs. 1,400 billion is required.
06:41So,
06:42to run the entire country,
06:43according to the government,
06:44the budget is estimated at Rs. 18,000 billion.
06:47Out of this,
06:48Rs. 10,000 billion,
06:49not precisely,
06:50round off,
06:51Rs. 10,000 billion.
06:53If it was Rs. 9,000 billion,
06:55it would have been 50%.
06:56This is a little more than 50%.
06:58This is only for the payment of interest and loan.
07:01So,
07:02half of the budget,
07:03was spent on this.
07:04Rest,
07:05Rs. 7,500 billion,
07:06the government has to give to the provinces.
07:08So,
07:09what was left,
07:10is spent there.
07:11So,
07:12the government is starting
07:13from the negative.
07:14If the government has Rs. 18,000 billion,
07:16for example,
07:17so,
07:18Rs. 9,500 billion,
07:19the government has to give,
07:20for the payment of interest and loan,
07:21Rs. 7,500 billion,
07:22to the provinces.
07:23So,
07:24the government is starting from the negative.
07:25So,
07:26the government is starting from the negative.
07:27So,
07:28the government is starting from the negative.
07:29So,
07:30the government is starting from the negative.
07:31So,
07:32the government is starting from the negative.
07:33So,
07:34the government is starting from the negative.
07:35So,
07:36the government is starting from the negative.
07:37So,
07:38the government is starting from the negative.
07:39So,
07:40the government is starting from the negative.
07:41So,
07:42the government is starting from the negative.
07:43So,
07:44the government is starting from the negative.
07:45So,
07:46the government is starting from the negative.
07:47So,
07:48the government is starting from the negative.
07:49So,
07:50the government is starting from the negative.
07:51So,
07:52the government is starting from the negative.
07:53So,
07:54the government is starting from the negative.
07:55So,
07:56the government is starting from the negative.
07:57So,
07:58the government is starting from the negative.
07:59So,
08:00the government is starting from the negative.
08:01So,
08:02the government is starting from the negative.
08:03So,
08:04the government is starting from the negative.
08:05So,
08:06the government is starting from the negative.
08:07So,
08:08the government is starting from the negative.
08:09So,
08:10the government is starting from the negative.
08:11So,
08:12the government is starting from the negative.
08:13So,
08:14the government is starting from the negative.
08:15So,
08:16the government is starting from the negative.
08:17So,
08:18the government is starting from the negative.
08:19So,
08:20the government is starting from the negative.
08:21So,
08:22the government is starting from the negative.
08:23So,
08:24the government is starting from the negative.
08:25So,
08:26the government is starting from the negative.
08:27So,
08:28the government is starting from the negative.
08:29So,
08:30the government is starting from the negative.
08:31So,
08:32the government is starting from the negative.
08:33So,
08:34the government is starting from the negative.
08:35So,
08:36the government is starting from the negative.
08:37So,
08:38the government is starting from the negative.
08:39So,
08:40the government is starting from the negative.
08:41So,
08:42the government is starting from the negative.
08:43So,
08:44the government is starting from the negative.
08:45So,
08:46the government is starting from the negative.
08:47So,
08:48the government is starting from the negative.
08:49So,
08:50the government is starting from the negative.
08:51So,
08:52the government is starting from the negative.
08:53So,
08:54the government is starting from the negative.
08:55So,
08:56the government is starting from the negative.
08:57So,
08:58the government is starting from the negative.
08:59So,
09:00the government is starting from the negative.
09:01So,
09:02the government is starting from the negative.
09:03So,
09:04the government is starting from the negative.
09:05So,
09:06the government is starting from the negative.
09:07So,
09:08the government is starting from the negative.
09:09So,
09:10the government is starting from the negative.
09:11So,
09:12the government is starting from the negative.
09:13So,
09:14the government is starting from the negative.
09:15So,
09:16the government is starting from the negative.
09:17So,
09:18the government is starting from the negative.
09:19So,
09:20the government is starting from the negative.
09:21So,
09:22the government is starting from the negative.
09:23So,
09:24the government is starting from the negative.
09:25So,
09:26the government is starting from the negative.
09:27So,
09:28the government is starting from the negative.
09:29So,
09:30the government is starting from the negative.
09:31So,
09:32the government is starting from the negative.
09:33So,
09:34the government is starting from the negative.
09:35So,
09:36the government is starting from the negative.
09:37So,
09:38the government is starting from the negative.
09:39So,
09:40the government is starting from the negative.
09:41So,
09:42the government is starting from the negative.
09:43So,
09:44the government is starting from the negative.
09:45So,
09:46the government is starting from the negative.
09:47So,
09:48the government is starting from the negative.
09:49So,
09:50the government is starting from the negative.
09:51So,
09:52the government is starting from the negative.
09:53So,
09:54the government is starting from the negative.
09:55So,
09:56the government is starting from the negative.
09:57So,
09:58the government is starting from the negative.
09:59So,
10:00the government is starting from the negative.
10:01So,
10:02the government is starting from the negative.
10:03So,
10:04the government is starting from the negative.
10:05So,
10:06the government is starting from the negative.
10:07So,
10:08the government is starting from the negative.
10:09So,
10:10the government is starting from the negative.
10:11So,
10:12the government is starting from the negative.
10:13So,
10:14the government is starting from the negative.
10:15So,
10:16the government is starting from the negative.
10:17So,
10:18the government is starting from the negative.
10:19So,
10:20the government is starting from the negative.
10:21So,
10:22the government is starting from the negative.
10:23So,
10:24the government is starting from the negative.
10:25So,
10:26the government is starting from the negative.
10:27So,
10:28the government is starting from the negative.
10:29So,
10:30the government is starting from the negative.
10:31So,
10:32the government is starting from the negative.
10:33So,
10:34the government is starting from the negative.
10:35So,
10:36the government is starting from the negative.
10:37So,
10:38the government is starting from the negative.
10:39So,
10:40the government is starting from the negative.
10:41So,
10:42the government is starting from the negative.
10:43So,
10:44the government is starting from the negative.
10:45So,
10:46the government is starting from the negative.
10:47So,
10:48the government is starting from the negative.
10:49So,
10:50the government is starting from the negative.
10:51So,
10:52the government is starting from the negative.
10:53So,
10:54the government is starting from the negative.
10:55So,
10:56the government is starting from the negative.
10:57So,
10:58the government is starting from the negative.
10:59So,
11:00the government is starting from the negative.
11:01So,
11:02the government is starting from the negative.
11:03So,
11:04the government is starting from the negative.
11:05So,
11:06the government is starting from the negative.
11:07So,
11:08the government is starting from the negative.
11:09So,
11:10the government is starting from the negative.
11:11So,
11:12the government is starting from the negative.
11:13So,
11:14the government is starting from the negative.
11:15So,
11:16the government is starting from the negative.
11:17So,
11:18the government is starting from the negative.
11:19So,
11:20the government is starting from the negative.
11:21So,
11:22the government is starting from the negative.
11:23So,
11:24the government is starting from the negative.
11:25So,
11:26the government is starting from the negative.
11:27So,
11:28the government is starting from the negative.
11:29So,
11:30the government is starting from the negative.
11:31So,
11:32the government is starting from the negative.
11:33So,
11:34the government is starting from the negative.
11:35So,
11:36the government is starting from the negative.
11:37So,
11:38the government is starting from the negative.
11:39So,
11:40the government is starting from the negative.
11:41So,
11:42the government is starting from the negative.
11:43So,
11:44the government is starting from the negative.
11:45So,
11:46the government is starting from the negative.
11:47So,
11:48the government is starting from the negative.
11:49So,
11:50the government is starting from the negative.
11:51So,
11:52the government is starting from the negative.
11:53So,
11:54the government is starting from the negative.
11:55So,
11:56the government is starting from the negative.
11:57So,
11:58the government is starting from the negative.
11:59So,
12:00the government is starting from the negative.
12:01So,
12:02the government is starting from the negative.
12:03So,
12:04the government is starting from the negative.
12:05So,
12:06the government is starting from the negative.
12:07So,
12:08the government is starting from the negative.
12:09So,
12:10the government is starting from the negative.
12:11So,
12:12the government is starting from the negative.
12:13So,
12:14the government is starting from the negative.
12:15So,
12:16the government is starting from the negative.
12:17So,
12:18the government is starting from the negative.
12:19So,
12:20the government is starting from the negative.
12:21So,
12:22the government is starting from the negative.
12:23So,
12:24the government is starting from the negative.
12:25So,
12:26the government is starting from the negative.
12:27So,
12:28the government is starting from the negative.
12:29So,
12:30the government is starting from the negative.
12:31So,
12:32the government is starting from the negative.
12:33So,
12:34the government is starting from the negative.
12:35So,
12:36the government is starting from the negative.
12:37So,
12:38the government is starting from the negative.
12:39So,
12:40the government is starting from the negative.
12:41So,
12:42the government is starting from the negative.
12:43So,
12:44the government is starting from the negative.
12:45So,
12:46the government is starting from the negative.
12:47So,
12:48the government is starting from the negative.
12:49So,
12:50the government is starting from the negative.
12:51So,
12:52the government is starting from the negative.
12:53So,
12:54the government is starting from the negative.
12:55So,
12:56the government is starting from the negative.
12:57So,
12:58the government is starting from the negative.
12:59So,
13:00the government is starting from the negative.
13:01So,
13:02the government is starting from the negative.
13:03So,
13:04the government is starting from the negative.
13:05So,
13:06the government is starting from the negative.
13:07So,
13:08the government is starting from the negative.
13:09So,
13:10the government is starting from the negative.
13:11So,
13:12the government is starting from the negative.
13:13So,
13:14the government is starting from the negative.
13:15So,
13:16the government is starting from the negative.
13:17So,
13:18the government is starting from the negative.
13:19So,
13:20the government is starting from the negative.
13:21So,
13:22the government is starting from the negative.
13:23So,
13:24the government is starting from the negative.
13:25So,
13:26the government is starting from the negative.
13:27So,
13:28the government is starting from the negative.
13:29So,
13:30the government is starting from the negative.
13:31So,
13:32the government is starting from the negative.
13:33So,
13:34the government is starting from the negative.
13:35So,
13:36the government is starting from the negative.
13:37So,
13:38the government is starting from the negative.
13:39So,
13:40the government is starting from the negative.
13:41So,
13:42the government is starting from the negative.
13:43So,
13:44the government is starting from the negative.
13:45So,
13:46the government is starting from the negative.
13:47So,
13:48the government is starting from the negative.
13:49So,
13:50the government is starting from the negative.
13:51So,
13:52the government is starting from the negative.
13:53So,
13:54the government is starting from the negative.
13:55So,
13:56the government is starting from the negative.
13:57So,
13:58the government is starting from the negative.
13:59So,
14:00the government is starting from the negative.
14:01So,
14:02the government is starting from the negative.
14:03So,
14:04the government is starting from the negative.
14:05So,
14:06the government is starting from the negative.
14:07So,
14:08the government is starting from the negative.
14:09So,
14:10the government is starting from the negative.
14:11So,
14:12the government is starting from the negative.
14:13So,
14:14the government is starting from the negative.
14:15So,
14:16the government is starting from the negative.
14:17So,
14:18the government is starting from the negative.
14:19So,
14:20the government is starting from the negative.
14:21So,
14:22the government is starting from the negative.
14:23So,
14:24the government is starting from the negative.
14:25So,
14:26the government is starting from the negative.
14:27So,
14:28the government is starting from the negative.
14:29So,
14:30the government is starting from the negative.
14:31So,
14:32the government is starting from the negative.
14:33So,
14:34the government is starting from the negative.
14:35So,
14:36the government is starting from the negative.
14:37So,
14:38the government is starting from the negative.
14:39So,
14:40the government is starting from the negative.
14:41So,
14:42the government is starting from the negative.
14:43So,
14:44the government is starting from the negative.
14:45So,
14:46the government is starting from the negative.
14:47So,
14:48the government is starting from the negative.
14:49So,
14:50the government is starting from the negative.
14:51So,
14:52the government is starting from the negative.
14:53So,
14:54the government is starting from the negative.
14:55So,
14:56the government is starting from the negative.
14:57So,
14:58the government is starting from the negative.
14:59So,
15:00the government is starting from the negative.
15:01So,
15:02the government is starting from the negative.
15:03So,
15:04the government is starting from the negative.
15:05So,
15:06the government is starting from the negative.
15:07So,
15:08the government is starting from the negative.
15:09So,
15:10the government is starting from the negative.
15:11So,
15:12the government is starting from the negative.
15:13So,
15:14the government is starting from the negative.
15:15So,
15:16the government is starting from the negative.
15:17So,
15:18the government is starting from the negative.
15:19So,
15:20the government is starting from the negative.
15:21So,
15:22the government is starting from the negative.
15:23So,
15:24the government is starting from the negative.
15:25So,
15:26the government is starting from the negative.
15:27So,
15:28the government is starting from the negative.
15:29So,
15:30the government is starting from the negative.
15:31So,
15:32the government is starting from the negative.
15:33So,
15:34the government is starting from the negative.
15:35So,
15:36the government is starting from the negative.
15:37So,
15:38the government is starting from the negative.
15:39So,
15:40the government is starting from the negative.
15:41So,
15:42the government is starting from the negative.
15:43So,
15:44the government is starting from the negative.
15:45So,
15:46the government is starting from the negative.
15:47So,
15:48the government is starting from the negative.
15:49So,
15:50the government is starting from the negative.
15:51So,
15:52the government is starting from the negative.
15:53So,
15:54the government is starting from the negative.
15:55So,
15:56the government is starting from the negative.
15:57So,
15:58the government is starting from the negative.
15:59So,
16:00the government is starting from the negative.
16:01So,
16:02the government is starting from the negative.
16:03So,
16:04the government is starting from the negative.
16:05So,
16:06the government is starting from the negative.
16:07So,
16:08the government is starting from the negative.
16:09So,
16:10the government is starting from the negative.
16:11So,
16:12the government is starting from the negative.
16:13So,
16:14the government is starting from the negative.
16:15So,
16:16the government is starting from the negative.
16:17So,
16:18the government is starting from the negative.
16:19So,
16:20the government is starting from the negative.
16:21So,
16:22the government is starting from the negative.
16:23So,
16:24the government is starting from the negative.
16:25So,
16:26the government is starting from the negative.
16:27So,
16:28the government is starting from the negative.
16:29So,
16:30the government is starting from the negative.
16:31So,
16:32the government is starting from the negative.
16:33So,
16:34the government is starting from the negative.
16:35So,
16:36the government is starting from the negative.
16:37So,
16:38the government is starting from the negative.
16:39So,
16:40the government is starting from the negative.
16:41So,
16:42the government is starting from the negative.
16:43So,
16:44the government is starting from the negative.
16:45So,
16:46the government is starting from the negative.
16:47So,
16:48the government is starting from the negative.
16:49So,
16:50the government is starting from the negative.
16:51So,
16:52the government is starting from the negative.
16:53So,
16:54the government is starting from the negative.
16:55So,
16:56the government is starting from the negative.
16:57So,
16:58the government is starting from the negative.
16:59So,
17:00the government is starting from the negative.
17:01So,
17:02the government is starting from the negative.
17:03So,
17:04the government is starting from the negative.
17:05So,
17:06the government is starting from the negative.
17:07So,
17:08the government is starting from the negative.
17:09So,
17:10the government is starting from the negative.
17:11So,
17:12the government is starting from the negative.