Minister for Finance and Revenue Hafeez Sheikh has said the government isfocusing on reducing foreign debt as it is a big burden on country’seconomy.
Taking the floor, he said blaming the government for current debt spike isunfair because it is also paying the loans obtained by the previousgovernments.
The Minister said during initial days of PTI government our first prioritywas to save the country from the impending default and resultantly thegovernment took result-oriented decisions and had landmark agreement withInternational Monetary Fund.
He said the current government inherited a very precarious economicsituation in 2018 and therefore had to introduce strict financialdiscipline to curtail excessive government expenditure, increase revenuecollection, introduce market driven exchange rate, remove large taxexemptions and discourage imports.
He said that the government did not borrow even a single penny form theState Bank of Pakistan during the last one and half year, while nosupplementary grants was provided.
He outlined that since the spread of Covid-19, the government has takenseveral initiatives to facilitate agriculture and construction sectors toaccelerate economic recovery.
He said due to primary surplus, we don’t need loans if we don’t have torepay previous loans.
The Minister said now the combined impact of various progressive economicindicators show that the country is moving forward.
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The Senate has strongly condemned the inhuman and degrading treatment ofKashmiri leader Yaseen Malik since his only crime is to raise his voiceagainst the brutal Indian military Occupation.
The Upper House adopted a unanimous resolution moved by the Oppositionleader Raja Zafar-ul-Haq.
The Senate took notice of the systematic imprisonment and torture ofpolitical prisoners in Indian Illegally Occupied Jammu and Kashmir. It alsotook not of the serious plight of Kashmir freedom fighter Yaseen Malik, whois incinerated in a death cell in notorious Tihar Jail in India, havingspent 25 years of his life in Indian prisons.
The House, expressing grave concern, said that new false charges are beingconcocted against Yasin Malik, with a view to keeping him in Jailindefinitely.
The Senate urged the government to immediately take up the case of YasinMalik and all other prisoners in IIOJK, including Asiya Andarabi, with theUN Human Right Council seeking their swift release from illegalimprisonment, launch sustained global campaign for highlighting this issueat all international fora, including goreign government, parliamentariansand human rights organizations and report back to the House within 45 daysas to the progress made on this issue, pursuant to the Senate resolution.
