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HomeNationalThe economy is recovering, the finance minister said - IG News

The economy is recovering, the finance minister said – IG News

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Finance Minister Shaukat Tareen while addressing a pre-budget press conference said that thank God that Corona has come under control and the economy has started recovering.

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Addressing a pre-budget press conference in Islamabad, Finance Minister Shaukat Tareen said that last year the government itself said that our growth would be 2.1.

He said Corona re-emerged in February this year, with large-scale manufacturing showing large-scale growth due to the government’s decision to grant incentives, and large-scale manufacturing showing 9 per cent growth.

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Shaukat Tareen said that at present remittances have crossed 26 26 billion, remittances are likely to reach 29 29 billion, the economy faced difficulties due to Corona, remittances prove that overseas from Imran Khan. Is related

The Finance Minister said that remittances are growing by 29%, remittances were sent to us by Allah Almighty as angels, current account is running our surplus, foreign exchange reserves which were پہلے 7 billion in 2018 are now 16 16 billion. ۔

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Shaukat Tareen said, “I can’t predict that we will go from gray list to white. Amazon has added us to the seller list. Monthly growth has been more than 50% for three or four months. We have set a budget of 5.7 trillion.”

Finance Minister Shaukat Tareen said that FBR’s tax collections are going well, tax collections are 11% higher than last year.

He said that we want to increase production to curb inflation, we will increase production in agriculture, agriculture, agriculture, we are bringing commodity storage in the agricultural sector.

Shaukat Tareen said that our debt has increased by 1.7 trillion, while last year it was 3.7 trillion which is now halved this year, interest rate has been reduced from 13.2% to 7%, industries have grown by 26%.

Finance Minister Shaukat Tareen said that Ehsas program is the best program globally, 15 million people were given cash assistance under Ehsas program, rating companies confirmed us, which is a seal, now we are moving towards stability.

Shaukat Tareen said that we will take the growth to five to seven percent, we will bring growth to provide employment to the youth, we have to take care of the poor, this time the budget has given attention to the poor man. Banks do not lend to the small class.

The finance minister says that we have to make life easier for the poor, fulfill their dreams, the poor will be the number one priority for us in this budget, SMEs get only 6% loan, where is the justice? About 9,000 people have so far benefited from the successful youth program.

“We are at 4% growth rate, we will try to achieve 7-8% growth rate, our commercial bank does not come to lend to the lower class, we will take steps for lasting stability of sustainable growth rate,” he said. The sector borrows 75%, we are taking steps for SMEs.

Shaukat Tareen said that we will find new avenues in exports, IT is growing by 50%, we will take it to 100%, India has increased IT 100 times in 10 years, can’t we increase IT by 50% more ? We have to increase our inflow of dollars.

“We have to improve exports, increase exports of products other than traditional exports, we have to increase exports and direct investment, we are trying to get rid of the revolving credit,” he said.

The Finance Minister said that power sector is a big challenge for us, we have created special economic zones in C-Pack, how will the loans come down unless we earn dollars, we have to give social safety net to our society, Nawaz Sharif has been saying since 1991. Privatization is required.

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