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The PPP promises the government will support the budget vote.

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5 months ago

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Insiders state that the PPP will support the budget despite expressing reservations about it.

As previously stated, the party leaders had not yet decided whether to support or oppose the federal budget that the administration will be announcing today.

Leading figures have reportedly reached a resolution over the dispute between two parties that are allies.

In order to have the budget approved, the People’s Party will give the PML-N its whole support. Sources stated that the PPP would back the budget’s adoption “in spite of protests and speeches in committee.”

The administration promised the PPP that some of its recommendations would be included in the budget, according to sources. Voting supporting the PML-N budget is a quid pro quo commitment made by the PPP leadership.

For assistance in passing the budget, the PML-N had asked the PPP.

The PPP has not yet decided whether to accept or oppose the budget, according to PPP leader Nayya Bukhari.

The forthcoming yearly budget for 2024–25 and the state of the nation’s economy as a whole were the topics of Prime Minister Shehbaz Sharif and President Asif Ali Zardari’s Tuesday meeting.

The meeting was also attended by Professor Ahsan Iqbal, the Federal Minister for Planning and Special Initiatives, a press statement from the President’s House stated.

The protection of low-income and middle-class interests in the annual budget is a priority, as highlighted by President Zardari. Along with pledging his support for fiscal benchmarks to be met, he also gave the prime minister assurances on national development.

The next budget’s proposed development projects were also discussed by President Zardari and Prime Minister Shehbaz. He told the president about his recent five-day travel to China, the prime minister said.

On June 12th, or today, the federal government will unveil its budget for the fiscal year 2024–25.

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Business

Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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Business

SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

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The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

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Speaking to a press conference, Marriyum Aurangzeb says the PML-N government has restored the trust of investors.

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According to Marriyum Aurangzeb, senior Punjab minister, the PML-N government has won back the trust of investors by making strides in a number of areas, including agriculture.

Marriyum Aurangzeb, speaking at a press conference in Lahore, emphasized the Punjab government’s initiatives to bring about major changes in the province, particularly in Lahore.

Marriyum Aurangzeb stated that in order to guarantee sustainable growth, the master plan for Lahore has been completed, and plans of a similar nature are being worked on for other districts.

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