Islamabad: Finance Minister Miftah Ismail has said that the responsibility of increasing exports is not only of the textile sector and to increase the country’s exports, every company will have to export ten percent.
Finance Minister Miftah Ismail while addressing the Leaders in Islamabad Business Summit said that there is an urgent need to identify the mistakes due to which Pakistan’s growth has been slow compared to other countries, for this we need to change our policy. need of
He said that there are four principles to improve the economy, which include living within resources, promoting exports, increasing agricultural production and focusing on children’s education, and if they are followed, the country will be on the path of development. will go
Miftah Ismail stressed that every company should export 10 percent of its products to earn foreign exchange for Pakistan and assured that the government would facilitate the exporters in this regard.
He said that it is very embarrassing to go and ask for money again and again. Only one industry in Pakistan is exporting goods. During the current fiscal year, there will be a budget deficit of 4 thousand billion rupees, last fiscal year, a budget deficit of 5200 billion rupees was recorded.
The finance minister said the country has a huge debt burden, including a deficit of Rs 5.2 trillion last year and Rs 3.5 trillion in the last four years, compared to five years of the previous PML-N government. The deficit during the year was Rs 1.6 trillion.
He said that during the last 11 years no attention was paid to the export sector due to which there was no substantial development and instead exports declined.
He said that our effort is to control the budget deficit, if we borrow money and set up industry, then the country will improve, as the profit in Pakistan is high, companies sell goods here.
Miftah Ismail further said that we have installed power plants and today the production of electricity has doubled. If we cannot increase taxes, we will have to reduce the minimum expenses. Governments should give a loan of 50 thousand billion rupees to the future generations. gave
He said that Bangladesh and India have many times more foreign exchange reserves than Pakistan, the share of textiles is 20 billion dollars in exports of 30 billion dollars, is the responsibility of increasing exports only on the textile sector? Ten percent will have to be exported.
He said that Pakistan has imported 11 lakh tonnes of wheat so far this year, the money spent on importing wheat can be saved by increasing agricultural production by helping farmers and incorporating latest technology.
Miftah Ismail said that since the 1970s, governments have failed to provide proper education and even the private sector has failed to provide proper education. will be done
