Minister of State for Finance Aisha Ghaus Pasha on Wednesday said the current account deficit had reached $17 billion in the last financial year.
\n\u201cThe current account deficit increased in the last year and we faced this situation,\u201d she told the Senate Standing Committee on Finance.
\nShe added that as the International Monetary Fund (IMF) programme was stalled, other financial institutions were also unwilling to lend money to the country.
\n\u201cIf the IMF programme had not been taken, the country’s economy would have gone bankrupt,\u201d she maintained.
\nThe Senate panel met with Senator Saleem Mandviwalla in the chair.In the meeting, the chairman and other members of the committee expressed their displeasure over the absence of the finance minister and the minister of state for finance.
\nSenator Talha Mahmood told the chairman that when the latter was in the opposition, he would express his anger over the absence of ministers from committee meetings.
\nSenator Mohsin Aziz of the PTI complained that the textile industry was closing down and the electricity bill was Rs30 million.
\nHe added that the import of machinery had been banned and dog food was coming into the country.
\nThe senator further complained that he had to make a personal request to the State Bank governor to import $10,000.
\n\u201cA company that imports $10 million shouldn\u2019t have to request for $10,000,\u201d he lamented.
\nThere was a harsh exchange of words between Senator Aziz and Senator Farooq H Naek.
\nAziz alleged that the present government had put the country on a loot sale.Naek replied that that the government of Aziz\u2019s party had damaged the country’s economy.
\nThe panel considered the State-Owned Enterprises (Governance and Operations) Bill.
\nThe government senators opposed it, as PML-N\u2019s Sadia Abbasi said the bill should not be approved in such a way.
\nShe added that it should be disclosed which government-owned institutions were involved.
\nThe senator further inquired under whom the boards of directors of these institutions would operate.
\n\u201cIf this an IMF condition, we will not accept it,\u201d she added.
\nSenator Naek said even after this legislation, nothing was going to change and the bill should be adjourned for reading.<\/p>\n","protected":false},"excerpt":{"rendered":"
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