Islamabad: Federal Minister for Finance, Dr. Abdul Hafeez Sheikh stressed the need for reducing non-developmental expenditure since this was necessary to improve the socio-economic condition of the masses.
He said the government is making all efforts to reduce non- developmental expenditure and it was taking solid measures for the purpose.
Dr. Hafeez Sheikh while talking to state-run TV channel said that the government was exploring new avenues and also working hard so that Pakistan could achieve self-reliance.
He said the Government has increased allocations to Rs50 billion for Benazir Income Support Program (BISP) to help poor people.
He said during the current financial year the BISP was allocated Rs35 billion and this had befitted about four million families.
He was of the view that the government will have to reduce its dependence on borrowings.
Dr. Hafeez Sheikh said subsidies amounting to billions were being provided for petroleum products and electricity. He said, however, the government is now trying to evolve a system so that the poorer could get better and more benefits from the subsidies.
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