ISLAMABAD:PTI Member National Assembly (MNA) Aliya Hamza Wednesday said the national economy was on the growth trajectory due to prudent economic policies introduced by the government.
Participating in the National Assembly debate on Finance (Supplementary) Bill-2021, she said the country’s economy made a significant progress that was evident from the fact that the listed business gained 59 percent profit despite economic slowdown caused by the coronavirus pandemic.
She said the country’s Gross Domestic Product (GDP) growth rate stood at 3.98 percent in the last fiscal year, and the Pakistan Tehreek-i-Insaf (PTI) government was confident of achieving the 5 percent GDP growth rate this year.
Contrary to it, Aliya said the growth rate of India, United Kingdom, United States of America and Iran remained in minus ranging from -3.7 percent to -10 percent.
She said Pakistan Stock Market posted record profit of Rs 250 billion and debt-to-GDP ratio was coming down gradually; and its all credit went to the visionary leadership of Prime Minister Imran Khan who saved the country from economic collapse.
She said all economic indicators including exports, revenue collection, remittances, industrial growth, and agriculture growth were moving in the right direction.
The MNA said today the overall foreign exchange reserves of the country stood at over $ 24.2 billion out of which $ 17.85 billion were held by the State Bank of Pakistan (SBP), while during last months of Pakistan Muslim League-Nawaz government, the Central Bank’s reserves were $7 billion.
She said output of the petroleum products witnessed an increase of 7.33 percent in the first four months of the current fiscal year, which was also another proof of the economic growth taking place in the country.
In the first 8-9 months of the year 2021, she said the Pakistan Tehreek-i-Insaf (PTI) government provided funds amounting to Rs 38 billion under the ‘Mera Ghar Scheme’ that gave a boom to the housing sector, with which almost 120 industries were attached.
She said the supplementary finance bill was meant to document the national economy and amend certain laws relating to taxes and duties.
Aliya said the government launched the Roshan Digital Account to facilitate overseas Pakistan, who were sending billions of dollars remittances using this channel.
She said during the last three years of the PTI government, around 160,000 new companies had been registered that showed investors’ confidence in the government policies, adding the real estate sector witnessed the growth of 494 percent, Information Technology 194 percent and Tourism 136 percent.
Taking part in the debate, Chairman of Balochistan National Party (BNP) Akhtar Mengal said ending tax exemption on the items used by the common man was not justified as the downtrodden segments of the society were already facing financial hardships.
He said it would trigger a new wave of inflation and unemployment, and definitely the general public would suffer.
He regretted the loss of precious lives in the Murree snowfall tragedy and underlined the need for taking appropriate measures to avoid such incidents in future.
Highlighting the plight of people of Balochistan and lack of essential facilities there, he drew the government’s due attention towards mitigating sufferings of the people of Balochistan.
He was of the view that resources of Balochistan province should be utilized for the welfare of its people on priority.
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