EpaperLHR_21-05-6

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Thursday, 6 May, 2021 I 23 Ramzan-ul-Mubarak, 1442 I Rs 15.00 I Vol XI No 307 I 12 Pages I Lahore Edition

IMF told that PakIstan won’t Increase tarIFFs, says tarIn g

announces Kamyab Kisan Programme aimed at incentivising farmers

ISLAMABAD staff report

F

inance minister shaukat tarin said on wednesday that Pakistan had informed the international monitory fund (imf) that increasing taxes or tariffs was currently unfeasible under the imf programme, adding that Prime minister imran Khan is against a tariff hike. flanked by special assistant to the Prime minister (saPm) on revenue dr waqar masood, and other officials in his first media briefing in islamabad, the finance minister, however, ruled out exiting the programme, saying the government has only asked the fund to not assign revenue targets as the country is battling the third wave of covid-19. “Pakistan has not yet come out of the imf programme, we have told them that our revenues were increasing at 92 per cent but the third wave of covid has caused some decreases, ” tarin said. “we will refuse the imf’s demand to increase the power tariff because our common man is fed up of inflation,” the finance minister said, adding that streamlining revenue and power sectors are an important challenges but inflation would have a cascading effect.

“we will increase the tax network [to achieve the desired targets],” he maintained. talking about taxation, he said its ambit would be further increased through innovative methods whereas the tax-to-gdP ratio would increase every year by one to two per cent. “the sudden increases on the orders of the imf, as done in 2019, would not happen. this is the wrong way of doing it,” he said. instead, he said, gradual annual increases would be the better way to go and efforts would be made to convince the imf about it. He observed that 90 per cent of programmes of the organisation fail because of its tough conditions and went on to add that there is a “political price of signing a deal with the imf”. He said that the government entered into an agreement with the organisation despite tough conditions which previous governments had not been asked to fulfill. “we went to the imf to fill the gap left by the $20 billion deficit, and complied with the programme. but i think the government, despite those strict conditions, followed it and went towards stability”. talking about economic activities linked with development of projects under china Pakistan economic corridor (cPec), the finance minister said that since a number of chinese companies are relocating their units to various

coronavIrus In

PakIstan

CONFIRMED CASES:

841,636

countries of the world, the government would request them to relocate some industries to special economic Zones (seZs) in Pakistan. about reforms in state owned enterprises (soes), he said the private sector would soon be given control of the entities. tarin also announced to start the Kamyab Kisan programme aimed at incentivising farmers as existing incentives for the agriculture sector had negligible trickle down effects. talking about the rising inflation, the finance minister claimed that middlemen in the business of agriculture goods were pocketing over 35 per cent of the price being charged to consumers. He said strategic reserve centers would be established to ensure farmers are not blackmailed as price stability is imperative. regarding his plan in the banking sector, the finance minister said that banks would be asked to increase the number of lending. “banks in KP, despite being facilitated by the government are lending rs50 billion out of rs600 billion capacity.” earlier the minister said that 12 working groups have been constituted in the economic advisory council to frame short, medium, and long-term policies for different sectors. the goal will be achieved by incentivising industries, agriculture and housing sectors, which will also provide job opportunities to the people. separately, shaukat tarin said Pakistan is looking forward to further deepen trade and investment ties with the us. He was meeting with angela P. aggeler, charge d’ affaires of the united states to Pakistan, who called on him, at the finance division. while extending a warm welcome to angela aggeler, the finance minister stated that Pakistan is looking forward to further deepen trade and investment ties with the us under the new administration. “coupled with 220 million consumer market, growing middle class and a young vibrant population, Pakistan offers immense opportunities for the us enterprises to invest in sectors such as information technology, agriculture, energy and tourism,” he added.

fiqah-e-hanfia lahore sehr: 3:43 aM iftar: 6:46 PM

ISLAMABAD staff report

four soldiers were killed and six others injured in an attack by afghan terrorists near the Pakistan-afghanistan border in Zhob district of balochistan on wednesday, a statement from inter-services Public relations (isPr) said. the attack took place when paramilitary troops frontier corps (fc) personnel were engaged in border fencing activity along the border in the district, the military’s media wing said. “terrorists from across afghanistan ambushed fc troops moving for fencing [… ] fc troops responded promptly,” the statement added, without mentioning

LAHORE staff report

LAST UPDATED AT 9:33 AM ON MAY 5, 2021

DAY'S DEATH TOLL:

NEW CASES:

119

4,113

RECOVERED:

DEATHS:

738,727 18,429 SINDH:

PUNJAB:

287,643

310,616

KP:

BALOCHISTAN:

121,099 AJK/GB: 17,465/5,341

22,776 ISLAMABAD:

76,696

islaMabad sehr: 3:31 aM iftar: 7:05 PM

karachi sehr: 4:20 aM iftar: 7:15 PM

Ambush by Afghan terrorists leaves four soldiers dead: ISPR

Public transPort, tourist destinations will remain closed as well

the Punjab government on wednesday decided to impose a complete lockdown from may 8 to restrict public movement due to the consistent rise in cases of novel coronavirus. the provincial government took the decision during a session held with Punjab Health minister dr yasmin rashid in the chair to mull over steps for curbing the coronavirus pandemic. it has been decided to restrict the public movement by imposing a ban on public transport and tourist spots across the province. the provincial authorities will establish check post on the entrance and exit routes of the cities where police, rangers and army troops will be deployed. dr yasmin said that the next 15 to 20 days are very important to contain covid-19 and asked citizens to support the government steps besides exhibiting responsible behaviour by adopting precautionary measures. she appealed to citizens to celebrate the eidul fitr with simplicity as additional holidays were announced to restrict the public movement. the chief secretary said that the people should be made aware of the precautionary measures and asked citizens to avoid unnecessary travelling during eid holidays. following the national command and operation centre’s (ncoc) orders, all parks and tourist spots

karachi sehr: 4:30 aM iftar: 7:05 PM

fiqah-e-jafaria lahore sehr: 3:33 aM iftar: 6:56 PM

Covid-19: Punjab decides to impose complete lockdown from May 8 g

islaMabad sehr: 3:41 aM iftar: 6:55 PM

the loss reported on the militants’ side. the injured soldiers were sent to combined military Hospital (cmH) in Quetta. the army is fencing nearly 2,600 kilometres border with afghanistan, and according to military sources, around 90 percent of work on the fencing has been completed. according to earlier statements by the isPr, the fence is being erected to stop terrorist activities, militants’ infiltration from the border, and illegal activities including smuggling from afghanistan. officials and experts believe that a significant reduction in militancy along the border areas will be witnessed after the completion of the fencing process.

more inside

Saudi Arabia considering barring overseas Hajj pilgrims for second year: Reuters STORY ON BACK PAGE

fix price of oxygen cylinders, sc tells government STORY ON PAGE 02

will be closed due to the spike in coronavirus cases, he added. dr yasmin maintained the vaccination process is continued across Punjab and more covid-19 vaccination centres will be established to facilitate the citizens. more than 1 million people were inoculated so far. the health authorities have also made Hdu beds in expo centre functional and more beds were allocated in private teaching hospitals for the free-of-cost treatment of coronavirus patients. dr yasmin added that the government is also considering purchases of oxygen and generators for covid-19 patients.

Senior Kashmiri leader Ashraf Sehrai dies in police custody in IOK STORY ON BACK PAGE

‘overseas Pakistanis are precious assets of the country,’ Pm tells envoys STORY ON PAGE 03


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