DLP Report
PESHAWAR
Advisor to the Chief Minister on Finance Muzzammil Aslam has said that Pakistan’s trade with neighboring countries had almost come to a halt. Trade with India has already ended, trade with Iran was not taking place due to the United States, and for the past three months trade with Afghanistan has also been facing disruption. He expressed these views while issuing a video statement regarding Pakistan’s economy here on Monday.
Muzzammil Aslam said that exports in January were a positive surprise, as exports of more than three billion dollars were recorded. If this momentum continues, it will be encouraging for Pakistan.
Muzzammil Aslam said that the Prime Minister of Pakistan made announcements for exporters at an event, one of which was that exporters would receive loans for exports under export refinance at the rate of four and a half percent, meaning a relief of three percent was given to exporters.
This was good news for exporters, and the government placed this relief into the banks’ accounts.
The Khyber Pakhtunkhwa Advisor to Finance said that the government has announced a reduction of approximately four rupees per unit in industrial electricity, which made industrialists happy. However, according to a report, there are approximately 28.5 million electricity consumers in Pakistan using 200 units and 500 units, whose fixed charges will be increased by 200 to 650 rupees, through which approximately 120 billion rupees will be collected, and from this, industrialists will be given relief of four rupees per unit in electricity.
Muzzammil Aslam said that industrialists should absolutely be given relief, but taking money from those 45 percent of the country’s population who are living below the poverty line and giving it to industrialists is injustice. He questioned whether the income of the common people has increased.
Muzzammil Aslam said that electricity for consumers up to 200 units and then up to 500 units is very expensive according to income, therefore many small consumers have shifted to solar power.
Criticizing the government, the Khyber Pakhtunkhwa Advisor to Finance said that the government is not reducing its expenditures, nor does it pay attention to its wrongly made agreements; rather, it has become bent on further oppressing the poor. The increase in fixed charges for low-electricity consumers will create an additional burden.
Speaking about the United Arab Emirates, the Khyber Pakhtunkhwa Advisor to Finance said that the UAE has imposed restrictions on visas, and the two billion dollars that were given to Pakistan as a loan used to be rolled over for one year, but are now being rolled over for only one month, and a demand has been made for an interest rate of six and a half percent. An interest rate of six and a half percent amounts to 130 million dollars, which equals 36 billion rupees in Pakistani currency. The government should show self-respect and review this decision.
