Federal Minister for Economic Affairs Hammad Azhar has claimed that the incumbent government has paid off over 10 billion dollars debt in its first year in power, which is the highest made by any government.
Speaking in the Senate session, Hammad Azhar has said that the aim of the government is to bring the fiscal deficit down to 4 percent in upcoming years.
The federal minister said that the foreign reserves of the country are also on the upward trajectory. He also said that revenue collection has also increased in first half of the current fiscal year and efforts are underway to boost non-tax revenue.
The minister added that private sector will be provided by encouraging atmosphere to create job opportunities for the youth.
He further said that the ministries of commerce and finance and State Bank of Pakistan are in consultation to revive the sick industrial units. The minister also pointed the ineffective policies of the previous governments that affected those units.
Hammad Azhar concluded that various proposals are being considered including restructuring the procedure of loans to revive the industries and boost the exports.
ADVERTISEMENT
