‘No govt can run given new inflation figures’

ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Asad Umar Friday said slapping more taxes was a remote possibility, as no government could run given the current inflation figures.

He said this while speaking in the Geo News programme Naya Pakistan. He said there was no need for increasing the electric power tariff adding that if those responsible for the sugar crisis were found in the PTI ranks, then Prime Minister Imran Khan will definitely take action against them. Earlier, addressing a press conference at the P-Block here, he said the IMF conditionalities will increase the price hike in the country. He said the flour prices were still high. He said the IMF had not asked for slashing down the development budget, rather it had emphasised utilization of whole allocated development budget of Rs701 billion for the current fiscal year.

“We have so far spent Rs188 billion on different projects under the PublicSector Development Program (PSDP) in the first seven months (July-Jan) of the current fiscal year,” he said.

The minister said out of Rs701 billion, the government had approved Rs429 billion projects and the utilization stood at Rs188 billion in the first seven months of the current fiscal year.

He dispelled the impression that utilization of development spending was low arguing that it was much better compared to the last few years.

He said utilization of PSDP spending stood at 25 percent in first seven months of the fiscal year 2014-15, 28 percent in FY 2015-16, 22 percent in FY 2016-17, 25 percent in FY 2017-18, 21 percent in FY 2018-19 and 27 percent in the current fiscal year 2019-20.

He said the PSDP spending utilized Rs562 billion in last fiscal year against allocated amount of Rs675 billion so 83 percent funds were utilized. “We will ensure whole utilization of Rs701 billion in the current fiscal year with foreign component of Rs127 billion,” he maintained.

Secretary Planning Commission Zafar Hassan said there were a total of 1,034 projects falling in the PSDP out of which 171 [development projects] would be completed during the current fiscal year.

The important projects that would be completed in the current fiscal year include Havalian-Mansher Road of Karakorum Highway, Sukkur-Multan Motorway, Kacchi canal phase-1, availability of water at Thar and two small dams at Thar. There will be Border Management System at Chaman border.

Regarding CPEC projects, the minister said Rashakai Economic Zone would be inaugurated within two months while bidding process for Dhabeji SEZ was underway. Gwadar projects, including international airport, installation of 300MW power plant and others, would be completed within the desired timeframe, he added.

The minister said the government had decided to come up with the National Growth Strategy for three years from 2021-2023 and the Planning Commission’s restructuring would be accomplished in next six months.

He said Prime Minister Imran Khan had tasked him with overhauling the Planning Commission as key initiatives were launched including devising Growth Strategy 2020-21 to 2022-23, Project Development Monitoring and Evaluation system revamp and enhanced focus on SDGs Implementation.

He said the government would establish Construction Industry Development Board and restructure and fully operationalize the Public Private Partnership (PPP) Authority.

The government, he said, launched Kamyab Jawan Programme under which Hunarmand Pakistan and Start of Training of 35000 youth was launched.

There is a target of 25,000 loan disbursements under the Youth Entrepreneurship Scheme (YES) he said, adding that the government had decided Islamabad Master Plan for Development of Capital City and a consultant would be hired to develop the Islamabad Master Plan and Islamabad Bulk Water Supply Project.