$6b secured from IMF
Multan—Finance Minister Senator Muhammad Ishaq Dar has expressed the resolve that GDP growth will be taken to seven percent. He said two previous governments took loans of Rs 12000 billions but in sectors of infrastructure development and energy no wok had been done. He said the debts of country when PML-N government was dissolved in 1999 were at Rs 3000 billion but when PML-N took over government in 2013 the debts of country were reached at Rs 15000 billion.
He said current government has taken loans of Rs 4100 billion during the last 30 months, adding that the government has spent Rs 1800 billion in development sector, Rs 250 billion in social safety income support fund and payments for the energy projects are also included in this money. He said criticism for the sake of criticism is not right, adding that $15.5 billion are present with State Bank of Pakistan, adding that the government secured $6 billion from IMF but also returned $5 billion to IMF. He said current foreign debt of Pakistan is currently $53 billion. Addressing the Multan Chamber of Commerce and Industry in Multan on Wednesday, he said China Pakistan Economic Corridor (CPEC) will play a major role in this regard. The Minister said the government is now focusing on growth of economy as it will create employment, enhance per capita income and improve living standard of the people.
He said that due to Government’s prudent policies, the country has achieved economic turnaround and the national economy is now stable.
He said forty-five billion rupees were spent on fight against terrorism during the last financial year. He said peace is vital for investment and economic development. He said tax collection has been improved and efforts are underway to take the target to 3100 billion rupees during the current financial year.
The Minister said the Government is focusing on energy generation which is a major ingredient for industrial growth. He said minimum ten thousand MW of electricity will be added to the national grid by March 2018. He said the Government is paying special attention to implement its manifesto which includes four Es-Economy, Energy, Education and Employment. —SABAH