1. Government is focused on capping twin deficits of trade and current account. • Government has reduced current account deficit from $ 19.5 Billion in FY 2017-18 to $ 13.5 Billion in FY2018-19. It targets current account deficit at $ 7 Billion in FY 2019-20. • Fiscal deficit will be contained through following measures; • FBR reforms • Broadening of tax net. • Tax compliance culture. • Asset declaration scheme for documentation of economy. • Filing of tax returns 2. Government to take action on Benami properties. All benami properties will be confiscated since tomorrow. 3. Government is taking following important measures to increase exports in order to bridge trade deficit gap:- • Tariffs on finished imports. • No tax on exports. • Gas subsidy for industry/export sector. • Subsidy on loans for the export sector • Zero tariff on raw material for exports sectors to lower cost of doing business. 4. Prime Minister says Exports have grown 30% but not is value / term because rupee of devaluation. • Imports of $ 5 Billion have been reduced. • Government is focused on Incentivizing Industrial Sector for rapid industrialization in the country. It would be another incentive package for the Industry after 1960s when industrialization started in the country. • Government is to capitalize on:- • Pakistan’s important strategic location • Steps to ensure ease of doing business. • Promotion of SME Sector through regulatory reforms. • PML-N Government Spent $ 7 Billion in one year to stabilize rupee artificially against dollar. • PML-N borrowed $ 14 Billion commercial loans on high interest role. • This shrank our foreign exchange reserves, leaving revenues only for two weeks imports. • It raised our debt-serving cost, as Government has paid $ 10 Billion in one year to fulfill our international commitments. • No agreement with IMF on particular value of dollar- rupee exchange rate. • It is neither free float nor controlled, rather it is based on real effective exchange rate. 5. Prime Minister says Pakistan is losing $ 10 Billion in money laundering every year.
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