- Energy is of key importance for people, trade and industry.
During first three months of our government, we have paid additional Rs 214 billion as subsidies to people to lessen the outstanding arrears left by previous government. An amount of Rs 570 billion is allocated under this head for next financial year so that common people are able to afford expenses on power, during this harsh summer.
- We have released Rs 248 billion for the payment of petroleum sector outstanding arrears and have provided Rs 71 billion for next financial year. Soon we will announce new gas rates, under which gas will be supplied to industries on rates competitive with other regional countries, so that exports are increased.
Education:
Mr. Speaker!
- Despite several financial constraints, and the fact that higher education is a devolved subject, we have allocated Rs 65 billion for Higher Education Commission (HEC) in current budget. Additionally, there is an allocation of Rs 44 billion for development schemes of HEC under PSDP, which is 67% higher than the previous financial year. this is a proof of our commitment to our youth. W are persuading provinces that in the coming years, they should assume more responsibility for higher education.
- HEC budget comprises of 5,000 scholarships for Baluchistan and merged districts of Khyber Pakhtunkhwa. There is a special scheme for coastal regions of Baluchistan. One hundred thousand laptops will be given to students on easy installment all over the country. To upgrade the engineering and technology education funds have been provided for state of the art equipment.
Agriculture and Food Security Mr. Speaker!
- Agriculture is the backbone of our country’s economy. Along with other measures, we have allocated Rs 21 billion to increase crop yield and uplift of livestock sector. Ministry of Food Security and Planning Commission, in consultation with provinces, have devised a three year growth strategy. The objectives of this strategy are to enhance production, increase farmers’ income, counter the negative effects of climate changes, promote smart agriculture, self sufficiency, value addition and agro processing.
Incentives for Youth Mr. Speaker!
- Youth are an important asset of our country. A national youth commission will be established. There are various schemes for youth. An integrated system will be introduced to increase the role of educated youth in country’s development. Under “Youth Employment Policy”, two million youngsters’ access to employment opportunities will be ensured. Young men and women will be provided interest free loan upto Rs 5,00,000. A loan scheme on low interest rate upto Rs 25,000,000 will be introduced. There will be 25% quota for women in loan schemes. To ensure the economic empowerment of young women, high-tech and other skills training will be imparted to them on priority basis. “Youth Development Centers” will be established all over the country.
- Young people will be able to access an ‘Integrated Job Portal’ and guidance through these centers. In view of climate changes and productive activities of youngster, a ‘Green Youth Movement’ will be initiated. Funds will be provided for schemes on the basis of merit, free laptop on installments for everyone and for construction of 250 mini stadiums. For encouraging the youth talent and entrepreneurship, ‘Innovation League’ will be established. ‘Talent Hunt and Sports Drive’ Programme shall be devised for youngsters aged 11-25 years.
Industry and Trade
Mr. Speaker!
- Industry is very important for every country. Products made in factory are not only exported but they meet the domestic demand too and provide livelihood for tens of thousands of people. Keeping in view its importance, Ministry of Industries and Production, with the cooperation of Asian Development Bank, has started work on Industrial Policy.
- For the last three years, payment of DLTL claims arrears has been very slow. Prime Minister has directed to pay all the refund claims to exporters immediately. At present verified claims by State Bank of Pakistan worth Rs 40.5 billion are outstanding. We are paying this amount immediately. Likewise, despite financial difficulties, sales tax refunds are also being paid immediately. To provide uninterrupted power supply to industries, industrial feeders will be exempted from load-shedding.
Investment:
- In order to promote investment in country, a new strategy is being chalked out under which an investor friendly environment will be provided and cumbersome procedures will be abolished. Our government is planning reforms in Dispute Resolution Mechanism for citizens and foreign investors. It will be ensured that the dispute resolution mechanism is economical, simple and effective.
- International best practices will be adopted for the purpose which will include the alternate dispute resolution mechanism. These reforms will be introduced in consultation with superior judiciary so that it could immediately be implemented.
- Previous Government did not establish even a single new special economic zone. Under CPEC, a lot of work on infrastructure had been completed till 2018 and now there is a need to use this infrastructure for economy. It was agreed with the Chinese Government that nine special economic zones would be established on CPEC route, investors from China and other countries will be facilitated to set up factories on these economic zones. However, previous government created many hurdles to slow this work. By now, despite lapse of considerable time, not a single special economic zone could be made operational.
- Prime Minister Shehbaz Sharif has directed to make special economic zones at Rashkai in Khyber Pakhtunkhawa, Lahore in Punjab and Dhabe Ji in Sindh to be made operational as soon as possible by immediately providing them electricity and gas.