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June 19, 2019

‘PTI government determined to achieve Rs5,500 billion revenue collection target’


Wed, Jun 19, 2019

ISLAMABAD: Minister for Power Division Omar Ayub Khan on Wednesday said that the government was determined to achieve revenue collection target of Rs 5,500 billion set for the financial year 2019-20.

Speaking in the National Assembly during budget debate Omar Ayub said, “Under the leadership of Prime Minister Imran Khan, the government was determined to achieve the set target of Rs 5,500 billion in the financial year”.

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He said during the period from 2008 to 2018, PPPP and PML-N leaders had ruled the country.

During the past 60 years, he said, the country faced a debt of Rs 6,690 billion, but during the ten years of their rule from 2008 to 2018, this debt surged to whopping Rs30,846 billion.

Such an unprecedented debt also hiked the prices of the daily commodities, badly affecting the common man.

He said that the country had to pay billions of rupees as interest on the loan taken by the PML-N and PPP governments.

The minister said that during the PML-N government circular debt had reached to billions of rupees.

The minister said that the PML-N government had artificially controlled dollar exchange rates.

He said that printing of currency notes by the PML-N government had also increased inflation.

He said that the PTI government will not print currency notes rather the government will focus to increase the country’s exports.

The Minister said that oil prices during PML-N regime dropped to $25 per barrel but its benefit had not been passed to the public.

Criticizing the economic performance of PML (N) and PPP governments, he said that the exports remained stagnant during their period and nothing was done by them to stabilize the economy.

He said that foreign investors were shy to make investment in Pakistan as they have no trust on the PML-N and PPP leaderships.

Omar said that it was unfortunate that PML-N was taking credit of all goods thing happening in the country.

“I wander, why PML-N is not taking credit of ideology of Pakistan” he added.

The minister said that former President of Pakistan Ayub Khan had laid the foundation of China Pakistan Economic Corridor by starting work on Karakoram Highway.

He said that PML-N government was also taking credit of Pervaiz Musharraf projects.

Talking about International Monitoring Funds (IMF), he said that PML-N had three times approached to IMF for loan while PPP approached seven times.

Omar Ayub said that an amount of Rs 184 billion would be spent on the development on the newly merged area of FATA.

He said the civilian government and the armed forces have cut their expenditures in the budget to deal with the current economic challenge.

The minister said that fencing around the Bani Gala had been erected by the PTI from its funds while road leading to Imran Khan’s home had been constructed by the Imran Khan himself.

Omar Ayub said that handsome amount had been allocated in the federal budget for education and health sectors.

He said that billions of rupees had been allocated for the Naya Pakistan Housing Scheme.

About the power sector, he said, credit did not go to the PML-N government for ending load-shedding in the country as the past government left behind an unpaid circular debt.

The minister said the previous governments did not enhance the power tariff despite NEPRA’s determination.

This move was aimed to win the general elections and continued power supply to loss making feeders resulted in the piling up of Rs200 billion in dues.

He said NEPRA had recommended an increase of Rs3.84 per unit in tariff, but the PTI led government passed on only Rs1.27 per unit to consumers and protected the domestic consumers using up to 300 units per month.

He said currently, there was zero load-shedding on around 80% feeders.

Omer Ayub said that no concession would be given to power pilferers and the circular debt would be zero by December, 2020. He also appreciated the performance of the ministry officials and distribution companies in this regard.

Regarding the petroleum sector, Omer Ayub said Prime Minister Imran Khan will perform the ground breaking of oil refinery at Khalifa point by the end of this year.

He said it is because of the prayers of the people that an honest leadership is governing and transforming the country.