Minister for Revenue Hammad Azhar on Thursday informed the House that government is introducing comprehensive set of economic and structural reforms to resolve the economic issues
Islamabad (Pakistan Point News / Online - 08th August, 2019) Minister for Revenue Hammad Azhar on Thursday informed the House that government is introducing comprehensive set of economic and structural reforms to resolve the economic issues. Responding to a question, he said that the stock of outstanding external debt of Pakistan till May 2019 stands at 10,838 billion rupees.He said government is focusing on exports competiveness, re-establishing fiscal stability and improving governance in key utilities and State-Owned Enterprises.
He said that inflation rate stands at 10.3 percent.The National Assembly was informed that export enhancement package has been extended for another three years. Parliamentary Secretary for Commerce and Textile Aliya Hamza Malik told the House during Question Hour that this package will provide long term policy to support and encourage non-traditional exports of the country.She said gas tariffs for LNG have been lowered for Punjab to bring it at par with other provinces to reduce cost of production.
Aliya Kamran said import and export regulations have also been revised to make existing regulations more business friendly.Taking floor Minister for Power Omar Ayub Khan said on the direction of Prime Minister Imran Khan cost of doing business are being reduced to facilitate investors. He termed invisible regulatory in previous governments an impediment in reducing cost of doing business.The House offered fateha for the departed souls who were martyred in bomb blast in Quetta three years ago, those who were martyred in cluster bombs attack in Azad Jammu and Kashmir and for three persons who died in River Chitral during the recent flood flash.
The Minister said that government had retired record foreign loans worth of 9.5 billion Dollars during the fiscal year which had never been done by any government in single year. He said government is focusing to enhance exports and foreign remittances for putting the country on the path of development and prosperity.To another question, he said foreign exchange rate remained constant. He said government is focusing on agriculture sector and 280 billion rupees has been allocated for the purpose.
He said cotton growing area was reduced 28 percent in last ten years which is a matter of grave concern.The Minister said increase in cotton growing area was discussed in ECC and a committee has also been formed in this regard.At the outset of the proceeding, Chairman PPP Bilawal Bhutto Zardari condemned the arrest of vice president of PML-N Maryam Nawaz.The members of PML-N also demonstrated before Speaker's dice.Responding to Bilawal Bhutto Zardari, the Minister for Communication Murad Saeed said Maryam Nawaz has been arrested on corruption charges. He said those who looted the national wealth will be held accountable. Amid rumpus, the Deputy Speaker adjourned the House till 11 am tomorrow.
