"We will take no dictation from the IMF. is loan is our right. We aren’t begging for it," says Finance Minister Ishaq Dar.
“We will take no dictation from the IMF,” Dar said, adding that the government will not compromise the nation’s interests under any circumstances.
“This loan is our right. We aren’t begging for it,” the finance minister said.
He assured the lower house that their agreement with the IMF will be shared with the legislators and uploaded on the ministry’s website.
Dar told lawmakers that the government will clear the Rs503 billion circular debt by August 12.
In the first phase, Rs370 billion of the total debt from the private sector will be paid by June 30.
Replying to cut motions moved against the demands for grants for different divisions of the government, Dar asked PPP members to check their criticisms of the budget.
“First you handed us the economy in a real mess. Your government took all the loans and spent the entire money borrowed and now you are making speeches. Please don’t do this,” Dar said.
The finance minister said he did not want to get into a blame game and requested the opposition to help him move forward.
He said Pakistan will have to pay back the loan or it would be declared a defaulter.
“Those who have been playing games with Pakistan’s economy will have to be answerable,” Dar said.
On lowering the general sales tax, the finance minister said he wished it could be brought down to 15%.
“But I do not have money for this,” he said.
On discretionary funds, the finance minister told the National Assembly that the government could not end discretionary fund of the Supreme Court as the process required a constitutional amendment. Such funds for the prime minister and cabinet ministers had already been curtailed.
The assembly approved demands for grants for different divisions of the federal government by rejecting all cut motions from the opposition with majority vote.
Till the filing of this report, almost all demands except for three to four divisions were granted and approved with majority.
Earlier, the house approved Rs2.110 billion for the Establishment Division, Rs11.4 billion for the Cabinet Division, Rs444.181 for the Federal Public Service Commission (FPSC), Rs1.075 billion for other expenditure of Establishment Division and Rs754.16 million for Prime Minister Office.
The demands for grants of Rs205.487 million was approved by the assembly for Board of Investment, Rs55.458 million for Prime Minister Inspection Commission, Rs6.221 billion for Atomic Energy, Rs75.667 million for Stationery and Printing, Rs13.944 billion for Capital Administration and Development Division, Rs430.353 million for Climate Change Division, Rs17.179 billion for Development Expenditure of Cabinet Division and Rs75 billion for other development expenditure of Cabinet Division outside Public Sector Development Programme (PSDP).
The demands for grants of Rs1.505 billion for development expenditure of Capital Administration and Development Division and Rs.52.615 billion Capital outlay on development of Atomic energy were also approved through majority of votes.
Published in The Express Tribune, June 24th, 2013.
COMMENTS (5)
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Time for Pakistan to look at IMF in the eyes!
Rs444.181 for the Federal Public Service Commission (FPSC). What will they do with 450 rupees??? Is it true or mistake by ET as usual?
A total u-turn.
I just hope that Dar has broader vision to run the finance ministry for the entire country effectively, efficiently and transparently. Am tired of those fancy flashy popular statements. Hope that industrialists are not the only beneficiary.
The loan is our right?
Yes, and I'm sure the IMF will also hand out free milk and cookies at the next meeting!
Mr.Dar better understand what kind of beast the IMF is and how it works. Quickly.