Ministers strongly defend the best budget

ISLAMABAD:

Declaring opposition criticism of the federal budget proposal to be a drama, Defense Minister Pervez Khattak asserted that the PTI government’s budget plan for 2021-2022 will bring an economic revolution in the country.

“The government presented the best budget and the whole country congratulates it,” the minister said in his budget speech to the National Assembly on Monday.

He said that in the past, the PTI-led government in Khyber Pakhtunkhwa (KP) had set the province on the path to progress and prosperity through historic reforms.

“As a result of the reforms, the people of the province have regained confidence in the leadership of the PTI and re-elected them with an overwhelming majority, which is a big slap in the face for the opposition. “

The minister said that the construction and industrial sectors are booming thanks to the incentives given by the current government headed by Prime Minister Imran Khan.

He said the global economy had suffered greatly from the COVID-19 pandemic. “However, our economy has not suffered much due to the cautious policies adopted by the government under the leadership of Imran Khan.”

He said the PTI government has inherited very limited foreign exchange reserves since its inception and had to turn to the International Monetary Fund (IMF) for payment of loans taken out by previous PML-N and PPP governments.

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“Not only would we get rid of the IMF, but we would also emerge as a strong economic power. The national economy is on the right track and the industry is developing rapidly, ”he added.

The minister said the country’s foreign reserves stood at $ 25 billion and there had been a record increase in exports. Exports of the IT sector have jumped to over $ 2 billion under the PTI government, which was only a few million dollars in the past, he added.

He said the change was happening in the country with an improvement in the standard of living of the people. “We gave incentives to industries and construction and it started to provide employment opportunities for the population.”

He said if people’s lives are improving and they have money to cover their expenses, it is an indication that the country is moving forward. “The opposition could no longer deceive the masses. The PTI will also win the 2023 general election with an overwhelming majority, ”he said.

He said the construction and agriculture industries generate jobs in the country. “The government has given a record incentive to the agriculture and construction sectors.”

The minister said opposition leader Shehbaz Sharif claimed that no universities had been built in the KP, of which he was previously chief minister. “I challenge him to have a debate with me and tell what he has done in his 20 years and I will present in front of the house the facts about what I have done in just five years.”

Speaking, Economic Affairs Minister Omar Ayub Khan said the last PML-N government scrapped more than 134 4,000 megawatt (MW) renewable energy (RE) projects to make quick money thanks to the “LNG train”, creating opportunities for the plunder and plunder of national wealth.

Participating in the debate on the federal budget in the National Assembly, he said that the PTI government, after coming to power, had relaunched all these projects and put in place a new RE policy, under which to l cheap electricity was produced.

He said the PML-N government has given the tariff for solar projects from 23 to 24 rupees per unit, which the current government has reduced to 6.5 rupees per unit within a year.

Before completing his five-year term, the minister said that the previous government had laid “mines” for the next government by deteriorating all institutions and causing the national economy to collapse.

He cited official Planning Commission reports and media releases from February 2018, the last year of the ruling PML-N government, which showed that the previous government failed to deliver on promises in all sectors. , and that the national economy has totally collapsed because of its mistakes. Strategies.

“Private investment also fell well below the 16.7% target despite the windfall of China-Pakistan economic corridor projects. While imports remained well above the restriction target of 31.1%. million dollars, ”he read in one of the reports.

Omar Ayub said the PTI government inherited a $ 20 billion current account deficit from the previous government which also failed to control the budget deficit.

He said the transmission line from Matiari to Lahore High Voltage Director Current (HVDC) was nearing completion, adding that the government was addressing the issue of “fixed payment” capacity charges so that it can correspond to the amount of the planned supply.

The minister said that in 2013 the capacity payment was 185 billion rupees, which rose to 468 billion rupees in 2018, due to the PML-N government’s bad “take or pay” agreements.

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“Today, 70% of the country’s energy mix depends on imported fuel,” he observed, adding that this year the capacity payment would reach Rs860 billion and by 2023 it would be Rs1.455 billion due to faulty strategy and policies of the previous government.

The PTI government, Omar Ayub said, had renegotiated deals that would save Rs 4 trillion over the next 15 years.

Maritime Affairs Minister Ali Haider Zaid said JB Morgan has declared Pakistan as the best country for investment due to the cautious policies of the current government under the leadership of Prime Minister Imran Khan.

Taking part in the budget debate in the National Assembly, he said the government has launched several programs for the masses of the country, including the Ehsaas program, the Kamyab program, the Naya Pakistan housing program and others.

Criticizing the Sindh government, he said that the Sindh government has not awarded any Provincial Finance Commission awards in the past 14 years. The minister praised the 2021-2022 federal budget, saying the focus has been on revenue generation, productivity and exports.

The minister said that several measures had been suggested in the next budget to relieve the population and put the country on the path of development.

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