Social safety net to get wider in FY25: State minister

State Minister for Finance Waseqa Ayesha Khan Monday (May 13) informed that the government is going to increase the number of beneficiaries under its social safety net programmes in the upcoming budget for the next 2024-2025 fiscal year (FY25).

"The number of beneficiaries under the social safety net programme is being increased to give relief to low-income people," she told the media after a special meeting on the Prime Minister's direction on budget at the Prime Minister's office in the capital, reports BSS.

Waseqa mentioned that the government is also going to provide the most priority on inflation control in the budget.
Referring to the Prime Minister's instructions on preparing the upcoming budget, Waseqa said, "The Prime Minister has given utmost importance on inflation control. She also directed that the implementation of Awami League's election manifesto should be given the highest importance in the budget".

She said that education, health and rural infrastructure sectors will get maximum allocation in the upcoming budget.
Regarding the withdrawal of tax holiday benefits in the budget, she said that the government is specifically looking into the matter of removing the tax holiday benefits from those sectors which have been getting tax holiday benefits for a long time.

"Some sectors have been getting tax holiday benefits for the last 20 to 25 years. Due to this advantage, now they have gained enough capacity and have captured the market of the country. In such a situation, they are supposed to focus on exports, but they are not doing it," she added.

She thought that if the additional benefits of tax holidays are removed, the entrepreneurs of these sectors will focus on exports.

Waseqa said if the tax holiday benefits are removed these sectors will lose additional benefits, but they can make up it through exports.

"We need to go in that direction for the sake of sustainable economy," she added.