Minister of State for Finance and Revenue Dr Aisha Ghaus Pasha on Friday rejected criticism of the incumbent government’s handling of the economy, blaming the previous government for agreeing to tough conditions for a loan and leaving behind a massive circular debt.
During a meeting of the National Assembly Standing Committee on Finance, Dr Pasha was asked about the fuel prices. She said that the government has had to take difficult decisions to improve the economic conditions in the country.
Noting that the country needs $20 billion, she said that it can only be managed if tough decisions are taken.
Earlier, Dr Pasha ruled out the possibility of imposing an economic emergency in the country, adding that they had collected around Rs800 billion in taxes over the target set by the International Monetary Fund (IMF). Dr Pasha, however, clarified that the IMF did not demand Pakistan impose Rs800 billion in taxes. “The government does not plan to impose an economic emergency in the country,” she said, adding that all talk of an economic emergency in the country was just speculation. Meanwhile, Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired an inter-ministerial follow-up meeting on anti-smuggling measures.
Minister for Law and Justice Azam Nazeer Tarar, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Pasha, Governor SBP, Secretary Finance, Secretary Interior, DG I&I Customs, Member Customs, ADG FIA, and senior officers from Finance Division participated in the meeting, said a press release. The meeting reviewed the progress on anti-smuggling measures and roadmap to strengthen anti-smuggling regime in the country. The meeting was apprised that strict and vigilant operations have been initiated against the illegal cross border movement of foreign currency, urea, wheat and other items by the Customs, law enforcement and intelligence agencies. It was informed that large quantity of foreign currency and other valuable items have been confiscated at various points between 9 to 15 December, 2022 period due to these strict measures. The representatives of Pakistan Customs, FIA and Interior have updated the meeting on their progress and suggested pragmatic measures to curb the menace of smuggling. The finance minister highlighted the necessity to stop the cross border smuggling of foreign currency and other valuable items affecting the economic growth in the country and expressed satisfaction on the progress of concerned agencies. He further stressed upon the need of coordination among all the concerned agencies for this purpose and directed them to take comprehensive and combined action against those involved in the smuggling activities and currency speculation. Dar directed the relevant authorities to speed up their operations to curb cross-border smuggling. It was also decided that a regular review meeting on anti- smuggling operations will be held on weekly basis.
