Shaukat Tarin, revealed that the International Monetary Fund (IMF) haslinked the approval of the sixth review on fulfilling five prior actions.
Talking to a media person after the award distribution ceremony of thePakistan Centre for Philanthropy, the Adviser said that major prior actionsare power tariff, withdrawal of tax exemptions, State Bank of Pakistan(SBP) autonomy, monetary policy, and exchange rate.
He said that the government has increased the power tariff besides alsowithdrawing tax exemptions. On the other hand, the ministry of law isreviewing the SBP autonomy bill and it would also be passed soon, he added.
Replying to the question with regard to the depreciation of the rupee, hesaid that the rupee would be strengthened after the completion of the sixthreview of the IMF.
About the fiscal as well as a monetary policy board and interest rate, hesaid that it was the domain of the SBP and the question be placed before it.
Earlier, the Adviser in his address said that there was considerable growthin philanthropy of about 50 percent during the last two decades and PCPcontributions have been very encouraging.
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The Adviser said that current expenditure is more than the tax collectionand the incumbent government strategy is to achieve inclusive andsustainable growth. He also hinted that the country would have more than 5percent GDP growth during the ongoing fiscal year, he added.
He further said that the government is also following a bottom-up approachto provide support to the poor as trickle-down benefits never reach them.The government would disburse Rs. 1.4 trillion in the next four years forthe welfare of the low-income group, Tarin added.
Shaukat Tarin also said that the government approach is to ensuresustainable growth through enhanced spending on agriculture, industry,Public Sector Development Programme, and Ehsaas and the total Ehsaasspending would be over Rs. 350 billion with the inclusion of provincesration cards.
The Adviser on Finance said that this government is doing what should havebeen done a very long time ago to support the low-income group people.
