*KARACHI: **PTI government hints at more tough decisions in coming days.*
*Advisor to Prime Minister on Finance, Revenue and Economic Affairs, AbdulHafeez Sheikh has said that the government has taken a few important andtough decisions to improve economy after it’s foreign reserves fell totheir lowest, $10 billion.*
Addressing a press conference in Karachi on Thursday, Shaikh said thatthe government was looking to borrow $2-3 billion from the World Bank andAsian Development Bank to support the rapidly-declining reserves.
Expanding upon the current deal with the International Monetary Fund (IMF)Sheikh said: “Approaching IMF is a part of the difficult decision that weare undertaking to save the country from economic turmoil, we are trying toincrease employment opportunities and wages for the employed class.
“The economic growth is meager compared to Inflation,” confessed Sheikh.
“A user consuming 300 or less units will not be effected by any new taxesthat might be imposed.”
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Talking about the economic situation of the country when the currentgovernment came to power, Hafeez said: “The state of the country’s economicaffairs was in tatters with a debt worth Rs.31000 billion and an externaldebt worth Rs.97 billion.”
Prices of gas units will see an increase but the financial advisor ensuredthat the new prices will not affect 40% of the consumers, he also informedabout a meeting which was held between representatives of the state and thebusinessmen and traders of the country.
“We plan to bump the National development program to Rs.800 billion,” saidSheikh.
The chief financial advisor expressed resolve to keep the people in lowerstrata of the economy who are economically weak and impoverished underspecial consideration.
