Islamabad: Prime Minister (PM) Shehbaz Sharif has said the third budget of government will turn wheel of the national economy to betterment on fast track basis.

We are going to present third budget of our government. Several challenges were faced while making budget. We hope this budget will take ahead national economy fast, he said this while talking in the meeting of federal cabinet here Friday.

He said today's meeting has one point budget agenda. We had to impose taxes on IMF demand in the previous budgets. We expanded the avenues of development.

Inflation rate was reduced from 38 to single digit during two years. However, the ratio of reduction in inflation could not stay intact due to Gulf tension. Policy rate was reduced from 22.50 percent to 11 percent. We will have to work hard day and night.

The other economic indicators are before the nation. We will have to discharge our obligations honestly and earnestly. We will have to fortify our security. We have to build dams to overcome water shortage. We will have to pay attention to solar, wind and battery storage to meet the needs of energy.

The chief ministers of all the four provinces extended cooperation. he added. .

Shehbaz Sharif also mentioned his talks with the Managing Director IMF saying that she is appreciative of the economic performance of Pakistan. The Prime Minister highlighted that detailed discussions were held with the PPP regarding the federal budget, while other allies unconditionally supported the budgetary proposals.

He termed his recent visit to China highly conducive saying important talks were held on CPEC Phase-2 during this visit.