Actions are being taken to transfer the benefits of economic policy to society: Ali

Minister of State for Finance Ali Pervaiz Malik said the government was taking swift action to make the benefits of prudent economic policies available to the public.

Addressing the media in Islamabad this afternoon, he mentioned various steps taken by the government to provide relief to citizens under the federal budget.

He added that Prime Minister Shehbaz Sharif has taken special measures for solar panels.

He added that the government has introduced contributory pension scheme for new conscripts and the Pakistan Armed Forces have also been asked to adapt to the new contributory pension scheme to reduce the burden on the state exchequer.

The Minister of State said investor confidence was growing and the stock market had recorded a historic boom.

Ali Pervaiz Malik said that after consultation with the World Bank, work was also underway to privatize distribution companies. He explained that consumer protection would remain the top priority in the entire exercise.

The minister said that as part of the austerity measures, the Prime Minister has ordered liquidation of Pakistan PWD and in the next few weeks there will be cuts in various departments which are not delivering market results.

Ali Pervaiz Malik also stressed the need to stabilize macroeconomic fundamentals through coordination and consultation with the provinces.