PTI government plans for reducing Pakistan foreign debt
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Minister for Finance and Revenue Hafeez Sheikh has said the government is focusing on reducing foreign debt as it is a big burden on country's economy.
Taking the floor, he said blaming the government for current debt spike is unfair because it is also paying the loans obtained by the previous governments.
The Minister said during initial days of PTI government our first priority was to save the country from the impending default and resultantly the government took result-oriented decisions and had landmark agreement with International Monetary Fund.
He said the current government inherited a very precarious economic situation in 2018 and therefore had to introduce strict financial discipline to curtail excessive government expenditure, increase revenue collection, introduce market driven exchange rate, remove large tax exemptions and discourage imports.
He said that the government did not borrow even a single penny form the State Bank of Pakistan during the last one and half year, while no supplementary grants was provided.
He outlined that since the spread of Covid-19, the government has taken several initiatives to facilitate agriculture and construction sectors to accelerate economic recovery.
He said due to primary surplus, we don’t need loans if we don’t have to repay previous loans.
The Minister said now the combined impact of various progressive economic indicators show that the country is moving forward.
The Senate has strongly condemned the inhuman and degrading treatment of Kashmiri leader Yaseen Malik since his only crime is to raise his voice against the brutal Indian military Occupation.
The Upper House adopted a unanimous resolution moved by the Opposition leader Raja Zafar-ul-Haq.
The Senate took notice of the systematic imprisonment and torture of political prisoners in Indian Illegally Occupied Jammu and Kashmir. It also took not of the serious plight of Kashmir freedom fighter Yaseen Malik, who is incinerated in a death cell in notorious Tihar Jail in India, having spent 25 years of his life in Indian prisons.
The House, expressing grave concern, said that new false charges are being concocted against Yasin Malik, with a view to keeping him in Jail indefinitely.
The Senate urged the government to immediately take up the case of Yasin Malik and all other prisoners in IIOJK, including Asiya Andarabi, with the UN Human Right Council seeking their swift release from illegal imprisonment, launch sustained global campaign for highlighting this issue at all international fora, including goreign government, parliamentarians and human rights organizations and report back to the House within 45 days as to the progress made on this issue, pursuant to the Senate resolution.
