KARACHI, OCT 02 (DNA) – President Pakistan Stewards Conference Guarantee Limited and former Vice President FPCCI, Tariq Haleem has expressed satisfaction over the steps taken by the government to curb the rise in revolving loans and said that Rs. 538 billion  increased.

During the financial year ended June 30, the revolving credit of the power sector has increased by 33.4% which is an increase of about Rs. 45 billion per month. However, the federal government has stopped the increase in revolving credit. The steps taken for this are commendable.

Tariq Haleem said that it is welcome that by December 2020 the revolving loans will be zero. In June 30, 2020 the revolving loans were Rs. 21 trillion 50 billion while on June 30, 2019 it was Rs. 15 trillion and 10 billion.

If the agreement between the Asian Development Bank (ADB) and the government to receive Rs 469 billion in revenue through consumer tariffs and to transfer Rs 800 billion in revolving credit to government debt in three years would have been implemented it would  have long lasting impact and strengthen the energy sector  financial stability.

Tariq Haleem further said that development budget should be spent on such sectors in the country from which the government gets returns, agricultural sector is the best for it, as an agricultural country we can get self-sufficiency of food.

Agriculture is facing water scarcity problem, attention should be paid to cleanliness and malignance of canals, cleanliness and tree planting campaign should be started in cities. Infrastructure of cities should be improved especially Karachi from where the government is getting more than 70% revenue.

Better strategy can accelerate economic activities in the city of Quaid-e-Azam, but this is possible only when the citizens have an atmosphere of satisfaction and we strongly hope that the government overcomes the problems of Rs 1100 billion.

The package will be spent on irrigating the city and building the infrastructure and development of the city. In this regard, the federation and Sindh province governments should focus on improving the city of Karachi by putting aside their disputes. =DNA

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