Sunday, August 1, 2021

Govt to achieve economic targets without burdening the nation: Shaukat Tarin

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ISLAMABAD: Finance Minister Shaukat Tarin has vowed that the federal government will achieve all of its economic targets without burdening the nation, ARY News reported on Saturday.

Shaukat Tarin, while talking to ARY News programme Aiteraz Hai, said that the federal budget 2021-22 was prepared after thorough research and hard work, adding that he hopes for achieving all targets set in the budget for the new fiscal year.

He vowed that the government will not put the burden on the nation and complete all of its economic targets.

While detailing the economic plans, Tarin said that the country will acquire levy petrol after witnessing a reduction in global prices, whereas, Saudi Arabia will soon provide oil at discounted rates. He reiterated that the government will keep the petroleum prices low.

He added that the oil prices will get decreased after sanctions against Iran are lifted.

The finance minister blamed the past government of Pakistan Muslim League Nawaz (PML-N) for ‘gifting’ current account deficit and said that the country would face bankruptcy over non-payment of dues.

Read: No tax on mobile services, internet: Tarin clarifies at post-budget presser

Tarin thanked PML-N leader and former finance minister Miftah Ismail for terming budget 2021-22 a ‘good budget’. However, he clarified that Miftah Ismail’s estimations for tax collections are wrong. He was of the view that the government was forced to acquire IMF loans due to the disastrous economic policies of PML-N.

“We will not hike electricity tariff over the demand of the International Monetary Fund (IMF). Small banks will be given loans by the big banks. Non-filers will be traced through their electricity and gas bills. We can bring a mini-budget to provide relief to the nationals.”

The finance minister said that the country needs economic growth at this time. The prices of essential commodities will come down after an increase in agriculture growth. He added that exports could also be increased through agriculture growth.

Read: FY2021-22: Rs8.5tr federal budget announced with historic PSDP allocation

Regarding salaries, Tarin said that the government took the decisions for salary raise after analysing the available resources.

“We had directed banks to provide agriculture loans to benefit the farmers. We also have other institutions that are used to provide loans to the farmers. We have just changed the procedure by deciding to provide easy loans to small banks from big banks to facilitate farmers. Not only farmers, small businesses will also be given loans to increase their income.”

The finance minister said that concrete steps will be taken for tax collections, whereas, a track and trace service will be launched to curb smuggling. “The export target for the next fiscal year will be $30 billion.”

“I am not here to become a senator but to improve the economic situation of Pakistan. The premier will decide for my senatorship. In accordance with the visit of Prime Minister Imran Khan, I came here to work for the development of Pakistan.”

He rejected the impression of introducing an electoral budget and said that the next general election will be held after 2.5 years.

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