Budget will be transparent: Pervez Rashid

Senator says power producers invoking sovereign guarantees for recovering their dues hurts the country's image

ISLAMABAD: A few days before the government unveils the budget for fiscal year 2014-15, Information Minister Senator Pervez Rashid has said the upcoming budget will be transparent, Express News reported. 

"The money will be visible therefore we can be held accountable," said Rashid during a press conference held on Thursday.

Senator Rashid also spoke about agreements signed in the 90s which provided power companies sovereign guarantees by the government of Pakistan. "These agreements were not made by the PML-N government," he said.

Rashid went on to add that the electricity power companies do not produce - even if it is in their capacity to do so - will have to be paid for by the government, whether the government chooses to use this electricity or not.

"These agreements are causing conflicts because if the government does not pay these power companies, the power companies can take the government to court anywhere in the world based on these sovereign guarantees."

He added that this would diminish Pakistan's status in the international community.

The minister also spoke about positive developments that have taken place under Prime Minister Nawaz Sharif's government, particularly in the telecommunication and banking sectors.