Says current foreign exchange reserves stand at 20.07b dollars
Finance Minister Ishaq Dar has said that collective efforts are needed to prepare the new NFC Award.
He was winding up discussion in Senate on motion moved by Muhammad Azam Khan Musakhel regarding distribution formula of NFC Award and report on second biannual monitoring on the implementation of National Finance Commission Award 2014.
The minister said he wanted the next award should be completed at the earliest. He said presently the commission was incomplete because the Sindh province had not yet nominated its member.
He said Rs 48 billion additional were given to KPK from divisible pool because the province was affected most due to war on terror. He said there was a realization that Balochistan should be given more funding for its development.
Meanwhile, Ishaq Dar also informed the Senate that the current foreign exchange reserves stood at $ 20.07 billion.
He was responding to a call attention notice of Usman Saifullah Khan regarding increase in public indebtedness to foreigners on account of the recent issuance of Euro Bond worth $500 million by the government of Pakistan at a substantial interest rate of 08.5 percent per annum.
The minister said the country’s economy had improved which was acknowledged by 22 international financial institutions. He said the Pakistan’s economy had been internationally declared as stable. He said the whole transaction of issuance of Euro Bonds worth five hundred million dollars was conducted in transparent manner.
‘WAPDA PREPARES PLAN TO TAP WATER DURING HIGH FLOW SEASON’
The Senate was informed on Tuesday that Wapda had prepared a comprehensive plan to tap water during high flow season and utilise it during lean season for agriculture and generation of electricity.
During question hour, Minister for Water and Power Khawaja Asif told the house that a number of projects were under consideration including Drawar Dam, Nai Gaj Dam, Kurram Tangi Dam, Naulong Dam and Diamir-Bhasha Dam besides a number of projects ready for implementation.
He informed the House that under the scheme small dams were being constructed in Balochistan and rain-fed areas of Punjab. Information Minister Pervaiz Rashid informed the House that 220 juvenile courts across the country were adjudicating upon the matters.
He said that 27 panels of lawyers had been notified across the country by different district courts to provide free legal assistance to the needy and poor children. Responding to a call attention notice, Khawaja Asif told the House that under a policy transformers were being removed because of massive overdue payments in different areas across the country.
He said under the policy these areas were being de-electrified till the overdue payments were cleared. He said transformers were not being removed in any specific area and it had no link with the upcoming local bodies’ elections.
