Rs 1 trillion financial gap: Finance Ministry responds over media reports

Rs 1 trillion financial gap: Finance Ministry responds over media reports
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ISLAMABAD – Over the media reports of government facing Rs 1 trillion financial gap, Finance Ministry has responded over media reports.

The finance ministry has dispelled the impression created in a section of the media which claimed that the government will face a gap of up to Rs1 trillion in the current year fiscal framework.

It said that the information was not based on facts.

A statement issued by the finance ministry states that the fiscal year 2018-19 outcomes were due to concerns over slowdown in growth with three major factors, including monetary and exchange rate corrections, need for protection of citizens from rising oil prices and expanding social safety nets and escalation on border with India.

The statement further said that reforms agenda being pursued by the government with the support of IMF Extended Fund Facility during first quarter of current fiscal year is so far very encouraging with strong indication that all the targets will be met.

Economy