The Senate Standing Committee on Finance was informed on Tuesday that Pakistan would receive a tranche of $32.5 million by October 15 under Coalition Support Fund (CSF).
Collectively the country would get $1.3 billion during the current fiscal year (2013-14) under CSF, Finance Secretary Waqar Masood Khan said while briefing the committee.
He said a sub-committee had been constituted to pace up the work on 3G Licence auction, adding that Pakistan Telecom Authority acting chairman had also been nominated.
The secretary informed the committee that the increase in power tariff was approved by the Council of Common Interest (CCI).
The committee approved the transfer of private property to pay off $800 million of Etisalaat.
Briefing the committee on the occasion, the State Bank of Pakistan governor attributed the recent hike in dollar value to speculations in financial market.
He said that State Bank was taking comprehensive measures to check money laundering, adding that although it was a difficult task but not impossible.
He was of the view that illegal currency business was going on at Pak-Afghan Boarder, whereas illegal money was being transferred to international banks through Dubai.
The committee expressed its concern that despite the fact that value of dollar had depreciated against rupee, basic commodities were still being sold at old rates, resulting in the mental torture of common people.
Committee chairperson Nasreen Jalal said it was expected that businessmen would provide relief to the people, but price hike in petrol, diesel, gas and edible items had rendered people helpless.
Senator Nuzhat Sadiq said Prime Minister Nawaz Sharif was well aware of the hardships of people and the government was taking decisions keeping in mind the interest of people.
Senator Kulsoom Parveen urged the government to explain the reasons behind increase in dollar value and depreciation in rupee.
Senator Sughra Imam said, “We must avoid policy of getting loans from International Monetary Fund that we have had to return with interest.”
Senator Fateh Muhammad Hussaini said the State Bank should be made autonomous and fully independent entity.
Senator Haji Adeel lamented that people who were holding foreign currency and received rent of their properties in dollars had to pay taxes, while Senator Usman Saifullah criticised the loan agreement with IMF.
The members of the committee were of the view that inflation had increased and urged the government to take steps for providing relief to the common man.
