The Embassy of Pakistan in the United Arab Emirates (UAE) hosted a grand reception today to commemorate Pakistan's National Day, attended by members of the diplomatic corps, senior UAE government officials, Emirati nationals, and the Pakistani community. His Excellency Sheikh Nahayan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, graced the occasion as the Chief Guest, alongside Minister of State for Foreign Affairs, His Excellency Ahmed bin Ali Al Sayegh. The event featured traditional performances, including the national anthems of Pakistan and the UAE played on traditional instruments. The Pakistani flag was prominently displayed on the hotel building, visible across Abu Dhabi, symbolizing the strong ties between the two nations . In his address, Ambassador Faisal Niaz Tirmizi reflected on the significance of the Pakistan Resolution and the challenges faced by the nascent state in its journey toward socio-economic development. He highlighted various opportuni...
The budget for Pakistan’s fiscal year 2024–25, which was just released, has generated a lot of national attention and controversy. The budget represents the government’s attempts to negotiate challenging socioeconomic environments while attempting to achieve growth and development. Its goals include resolving a variety of economic issues.
The budget’s emphasis on social welfare measures and programs aimed at reducing poverty is one of its most notable aspects. A substantial amount of funding has been allocated to the social protection, health, and education sectors, demonstrating a dedication to enhancing the welfare of the populace. This includes more money for social safety nets to protect disadvantaged groups in society, education reforms, and infrastructure improvements in the hospital and education sectors.
In keeping with initiatives to boost economic expansion, the budget proposes initiatives to encourage investment and entrepreneurship. The objectives of tax incentive and subsidy provisions are to promote the involvement of the private sector and create an atmosphere that is favorable to the growth of businesses. In an effort to draw in both domestic and foreign investors, initiatives have also been implemented to improve the ease of doing business and expedite regulatory procedures.
Infrastructure development is still a top priority, with significant funding going toward the energy, communication, and transportation industries. Prioritizing projects that will boost economic activity and improve connectivity nationwide includes fixing energy shortages, growing public transportation networks, and enhancing road networks.
The budget seeks to achieve a balance between managing expenditures and generating revenue in terms of fiscal management. There are steps to streamline government expenditure and lower fiscal deficits as well as to improve revenue collection and tax base expansion.
All things considered, Pakistan’s budget for the fiscal year 2024–25 shows a thorough strategy for tackling socioeconomic issues and promoting inclusive growth and development. However, efficient governance, open policies, and coordinated efforts to remove current obstacles are necessary for its successful implementation.
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