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PMLN ka Awam Kay Liye Subsidy Jari Rakhne Ka wada IMF ki Shart kay Rehte Pura Hoga? Ishaq Dar's Statement
PMLN ka Awam Kay Liye Subsidy Jari Rakhne Ka wada IMF ki Shart kay Rehte Pura Hoga? Ishaq Dar's Statement
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00:00 Ishaq Dar Saab, Muslim League Noon has promised to continue the subsidy for the farmers and the socially disadvantaged in the electricity sector in their pamphlet.
00:08 Does this not comply with the IMF's dictation or demands and the decision of the Special Investment and Commercial Council?
00:16 IMF is against non-budgeted subsidy, number one.
00:22 Number two, if you are budgeting a subsidy, then overall, all the indicators, fiscal deficits, all the things are decided by you.
00:30 This will be here, this will be here, your revenue will be targeted, etc. etc. and your expenses will be this, all the things.
00:38 So I am requesting that 20 subsidies are being given at the moment and in many sectors, the subsidy and especially
00:48 the people and people and sisters who use our units, they are a lifeline consumer.
00:56 They are getting electricity at a very low cost at a special rate.
01:01 And then there is a protected, whose consumption is more than the parameter in six months and they do not keep it inside.
01:12 They have a different rate, which is also very low. So there is a protected category and a lifeline category.
01:19 The differential of both of these, which is the cost per unit and those who charge them,
01:26 is properly provided in the budget.
01:29 That budget, the Treasury will reimburse it and it happens.
01:37 And this year also, in Muslim Madhav, the subsidy of 976 billion is available in light of electricity.
01:46 Even now, this whole year.
01:50 Sir, but on one hand you are saying that they will give subsidies, they will arrange it,
01:55 but on the other hand, there can be some new confidence in terms of revenue stream.
02:01 The law has not even set a limit to increase the very low tax to GDP ratio of Pakistan.
02:08 You have increased this ratio by 10.4% by the end of 2029 and promised only 13.5%, which is only 0.7% per year.
02:18 Do you think that's enough?
02:20 No, no, Mr. Mehrabibi, tell the viewers that we had left the tax to GDP at 13.5% from 9.5% to 20.3%.
02:32 And now it has fallen again to 9.5% under the rule of Mr. Imran Khan.
02:39 And we are giving realistic numbers again, so that we can deliver it.
02:47 So that's why 13.5% is a very realistic and conservative number.
02:54 Conservative.
02:55 So that when you give 15%, we will finish 10 years later and you will say that you have given 15% and 13.5%.
03:03 So we have to keep everything in mind.
03:07 That's right, sir, but the government's target of reducing the budget loss to 3.5% by GDP by the fourth year,
03:15 there can be a lot of difficulties in achieving this target.
03:18 How will you arrange for that?
03:20 No, there will be no difficulties. If the revenue increases, there should not be any problem.
03:25 Don't forget that our revenue from the federal government is not just taxes, it is non-tax revenue also.
03:35 So this manifesto is based on our comprehensive working.
03:40 It is not made in the air that you write 10 points and tell the people that 8 points are not understood.
03:45 And 2 points are already explained, 300 units and double salary.
03:50 If you increase 14%, inflation is 20% annually, then it will double.
03:55 But sir, there is an unprecedented burden of loans on our country.
03:59 It is absolutely unsustainable.
04:01 In your financial year 2022, you are responsible for paying 5.2 trillion rupees in loans.
04:06 This is more than the entire revenue and revenue of the Wafaaqi government.
04:10 Would you like to reschedule the loans if you come to power?
04:14 Absolutely not. It will not be necessary here.
04:19 And the main culprit of debt servicing is the interest rate of 22%.
04:25 That IMF will not let you work.
04:27 5.25% was when Mian Nawazish left the government.
04:35 And when Shahid Saqqan Nawazi completed the last few months of the last year, it was 6.5%.
04:41 Today it is 22%.
04:43 The biggest borrower is the government of Pakistan through banks, through trade deals and Pakistan investment bonds.
04:54 So this country, which was doing debt servicing under the leadership of Mian Nawazish, has crossed 8000 billion.
05:04 Look, these are all answers to the question.
05:07 We have to break that cycle and bring it back.
05:10 If we reduce that rate, your debt servicing will continue to improve.
05:14 No one is impossible.
05:16 And we have done it.
05:18 There was 12% average inflation when we came in the last year.
05:22 We left it at 4%.
05:25 Food inflation was more than 2%.
05:28 So these things, one is that you are talking in the air.
05:31 One is that we are promising on the basis of our performance.
05:34 9% was probably inflation.
05:36 But sir, tell me, the Fitch has...