Giving good news to the people, Finance Minister Muftah Ismail has said that ghee will soon become cheaper by Rs 150,100. Addressing a press conference, the Finance Minister said, “Thanks to those who were talking about the economy, it is known that the economy has come under control. Steps were taken to overcome this and we saved the economy from bankruptcy and now we are moving towards stability.
The Finance Minister said that it was welcome that the price of crude oil in the world market had come down to 100 100 and its benefits would be passed on to the people in due course. Earlier, a proper and balanced budget was approved, we have asked for sacrifices from the rich while incentives and facilities have been provided to the poor. The former government is facing the largest trade deficit in history. In addition, the current account deficit is the second largest deficit. In this situation, the government focused on economic stability, received سا 4.5 billion from China, our foreign exchange reserves have also increased, soon an agreement with the IMF. will be done.
He said that the price of ghee and edible oil in the world market has come down from 17 1700 per tonne to one thousand dollars and soon the price of ghee and edible oil in Pakistan will be Rs. 100 to 150 per kg / liter. There will be a reduction, the price of wheat in the world market has also come down, in this situation the tender already issued for the purchase of wheat in the ECC meeting has been canceled and now a new tender will be issued so that we can reduce Wheat could be found at the price. The Finance Minister said that the situation was gradually improving and as time went by, the effects of the incompetence of the former incompetent government would begin to diminish.
Referring to the situation of load shedding and power generation in the country, he said that the Krut power project was supposed to start earlier this year but work on it has now started due to which load shedding has started, Haveli Bahadur. Machines for II trims came in 2018 and were scheduled to start production in 2019, but unfortunately the PTI government had left unfinished projects of the PML-N era unfinished.
Muftah Ismail said that before the rains, the demand for electricity had increased to 30,000 MW while the capacity of the whole of Pakistan is not more than 23,000 MW. The plants were shut down due to lack of fuel while the 2500 MW plants were shut down due to non-repair. The government has called for fuel while the plants have also been repaired.
Muftah Ismail said that the Punjab government was subsidizing consumers using up to 100 units of electricity from its own resources so that the tears of the poor could be wiped away but the PTI went to court against it. Investors have been given incentives and subsidies while the poor have gone to court on subsidies. PTI has not done a good job by shutting down the free electricity facility up to 100 units. They should have strengthened the hands of the Punjab government. On the contrary, when there was a PTI government, the real estate sector was given tax exemption for two years. Poor people cannot give diamond rings to the former first lady. That is why Imran Khan has stood up against the poor, his whole party and politics is standing on lies.
The finance minister said that the lie of buying oil from Russia is also a link in the chain. Imran Khan had visited Russia in February, so why did he not buy cheap oil from Russia in March, as well as to close the anchorage. This is also wrong because this anchorage is not run by the government but by the Tourist Welfare Trust which is still running. The Finance Minister said that even the loans of the successful youth program are not being stopped but it is being restructured. The scheme started by the PTI government has kept the interest rate of banks very high. Yes, we will give this right to the deserving youth and loans of Rs. 20 to 25 lakhs will be given.
Replying to a question, the Finance Minister said that matters with the IMF regarding the program were progressing smoothly, no hurdle had emerged so far and matters with the IMF would soon improve. To another question, he said that the effects of reduction in edible oil prices in the global market would be transmitted locally, adding that within a week, the price of ghee and oil would go up to Rs 350-400 per kg. We are trying to reduce our import bill, non-energy import bill has been reduced but energy import bill has not been reduced, we hope that the import bill will be reduced in July while the current account deficit will also be reduced.