ISLAMABAD: Prime Minister Yousuf Raza Gilani on Friday described as historic, presentation of the 5th successive budget by the democratic government saying the milestone clearly manifested the continuity of the political process in the country.

The prime minister made the remarks while chairing the Special Cabinet meeting on budget proposals (2012-13) at the Parliament House.

The prime minister said that the incumbent coalition democratic government deserved credit for upholding the cause of democracy, rule of law and the constitution.

It was only their commitment to the democratic dispensation that the country was poised for smooth transition- first time in the history of Pakistan, the prime minister said.

He was highly appreciative of the coalition partners who steered the country out of the many challenges and restored the constitution of the country, and gave financial and political autonomy as per the constitution under the     unanimously passed 18th amendment and the 7th NFC Award.

Earlier, Finance Minister Dr Abdul Hafeez Shaikh briefed the cabinet about the budget proposals in unison with the priorities of the democratic government.

The finance minister said that the budget has been prepared keeping in view the imperatives of people's welfare, economic growth and incentives to the potential investors providing them enabling environment to become partner in the growth of the economy.

He said that the revenue generation endeavors have paid dividends as the collection registered 25 per cent increase as compared to the last year.

The cabinet members congratulated the prime minister for his leadership which has ensured the continuity of the political process so important for the socio-economic development of the people of Pakistan.