PTI’s 100-day agenda requires additional Rs1,600 billion per year: Miftah

22
APP53-22 ISLAMABAD: May 22 – Finance Minister Miftah Ismail along with other ministers addressing a press conference at Punjab House. APP photo by Saeed-ul-Mulk

ISLAMABAD, May 22 (APP):Minister for Finance, Miftah Ismail Tuesday said the 100-day agenda presented by the Pakistan Tehreek-i-Insaaf (PTI) Chief Imran Khan was not based on reality as it would incur huge monetary burden on the government.
“Although it seems very ridiculous to talk on the agenda given by the PTI chief, but if we calculate, the government will have to spend Rs1,600 billion per year extra amount to fully act upon the pledges made in the agenda,” he said while addressing a press briefing here.
He said according to PTI’s plan, an amount of Rs50 billion per year would be required in terms of administrative cost for establishing new province while Rs120 billion would be needed for poverty alleviation.
Similarly in order to provide 10 million jobs, the government would need additional Rs140 billion while Rs15 billion per annum would be required for easing taxes on Small and Medium Enterprises sector.
In addition, the PTI also claimed to reduce electricity cost and to give special incentives packages to the export sector which would need another Rs55 billion and Rs100 billion respectively.
Likewise to build five million houses, the government would also need Rs100 billion and Rs160 billion would be required for establishing wealth fund.
In terms of reducing taxes on diesel, the PTI will need another Rs80 billion per year whereas to give subsidy on loans to be given to farmers, the government will require Rs40 billion.
To provide clean drinking water to the people across the country, an amount of Rs240 billion would be required while to complete 10 billion tree project, Rs25 billion per year would be needed.
“So in total the PTI will have to spend Rs8 trillion extra amount to fully act upon its 100-day agenda which means that over 4 percent of total GDP,” Miftah said adding that this will increase the debt to GDP ratio from current 4 percent to over 8 percent in next five years.
He said the PTI Chief had given its plan to do lot of things but he must be questioned that why he had not presented his plan that how to generate more income that would be required to fulfill his pledges.
Revenue Minister Haroon Akhtar Khan said PTI’s plan to establish a task force to bring back the robbed wealth from abroad was not based on reality as such things did not happen by force but by fallowing certain international rules and regulations which the Pakistan Muslim League (N) government had already done by signing agreement with a multinational convention-Organization for Economic Cooperation and Development (OECD), besides signing bilateral treaties with Switzerland and other countries to bring back the looted money to Pakistan.
Responding to the PTI’s claim of poverty alleviation and creating job opportunities, Haroon Khan said those were part of the current government’s national policy and during its tenure it worked hard to alleviate poverty in the country.
“We have increased GDP growth from three percent to 5.8 percent, decreased inflation to under four percent, increased budget for social safety net by three times, increased agriculture growth to over three percent, increased per-capita income to $1640, and reduced load shedding” he said adding that all these achievements had helped in alleviation of poverty and creation of thousand of new jobs in the country.