News Column

Govt believe in trade not aid: Rana Afzal

January 28, 2014

Parliamentary Secretary for Finance, Revenue, Economic Affairs, Statistics & Privatization, Rana Muhammad Afzal Khan Monday said the government believe in Trade not aid, and that the aid being provided by the US on the condition of releasing Shakeel Afridi had already been rejected by the government. Responding to a question, Afzal Khan said when the government came into power it had to face a severe financial crisis including huge Circular Debt and considerable due payments to International Monetary Fund (IMF), however, with the efforts of the government the situation had improved a lot. Afzal said there had been a surplus of 285 million dollar in trade till December last year while the banks had also financed up to Rs. 250 billion to the industries which was a healthy sign. He said in Microfinance Sector the rate of return had also increased reaching to the level of Rs 7.6 billion . The parliamentary secretary added it was due to the efforts of the finance minister that dollar had came back from Rs. 111 to Rs. 105 . ”It is a big achievement of the government as the loss of Rs. 149 billion has been prevented,“ he added. He said 70,000 new tax returns had been filed till December as compared to the previous year and it was the target of the government to bring 100,000 new taxpayers in the net during the current fiscal year and an additional 100,000 in each of the following two years. Federal Minister for Planning and Development Ahsan Iqbal said the foreign investment, which was decreased in recent past, was now improving which was evident from the fact that ”Wall Street Journal“ had mentioned in a news item that ”Investors were Braving to Pakistan.“ He said the previous financial year was at the lowest ever level as far as the foreign investment was concerned.

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Source: Daily Patriot (Pakistan)

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