Govt to achieve Rs.5.5 trillion revenue target next year: Omar Ayub
Last updated on: 19 June,2019 08:05 pm
Exports remained stagnant in the past: Omar
ISLAMABAD (Web Desk) - Making an opening speech on the budget from treasury benches, Minister for Power Omer Ayub emphatically stated that the revenue target of 5.5 trillion rupees set for the next fiscal year will be achieved by the PTI led government.
He said the PPP and the PML (N) in their ten year rule indebted the country of twenty four thousand billion rupees. He said we have paid three thousand billion rupees this year only as an interest on the loans taken in the past.
Criticizing the economic performance of PML (N) and PPP governments, he said that the exports remained stagnant during their period and nothing was done by them to stabilize the economy.
Omer Ayub said unlike the past, the present government is bringing improvement in the system.
He said it is because of the prayers of the people that an honest leadership is governing and transforming the country.
Omer Ayub said both the PML (N) and the PPP destroyed the economy. He said it is because of their policies that we are faced with current account and fiscal deficits.
He said the civilian government and the armed forces have cut their expenditures in the budget to deal with the current economic situation. The Minister said that one hundred and eighty four billion rupees have been earmarked in the budget for the development of tribal districts.
Regarding the power sector, Omer Ayub said we have brought improvements in the electricity transmission system. As a result of which we ensured load shedding free Ramazan during Sehr and Iftar timings. He said we have not increased the power tariff for the consumers using up to three hundred units rather we have given them the subsidy. He said we have also supported the export industry which will help bolster our exports.
Voicing concerns over increase in circular debt in the previous regime, he said we will bring the circular debt to zero by the end of next year.
He said we have also started a campaign to check power theft. FIRs have been registered against thirty thousand people whilst four thousand people have been put behind the bars for their involvement in power pilferage.
He was confident that the power sector will receive massive investment in the coming days. He said our target is to increase the share of renewable energy in the energy mix to twenty percent by 2025. He said by 2030, our target is produce seventy to seventy five percent power from indigenous resources.
He said the previous government installed coal power plants at wrong points which affected our agriculture sector.
Regarding the petroleum sector, Omer Ayub said Prime Minister Imran Khan will perform the ground breaking of oil refinery at Khalifa point by the end of this year.