6 percent growth target set for next fiscal year realistic, achievable: Finance Minister Dar

Finance Minister Ishaq Dar has said that the six percent growth target set for the next fiscal year is realistic and achievable.

Winding up discussion on Budget 2017-18 in the National Assembly on Tuesday afternoon, he said net debt to GDP has decreased from 60.23 percent to 59.3 percent. He said 90 billion rupees have been allocated in the next budget for the rehabilitation of Temporary Displaced Persons of FATA and security purposes.

He said the government is also taking measures to increase country's exports, which include a subsidy of 22 billion rupees.

The Minister said 75 recommendations of the Senate have been accepted totally, principally or partially out of total 276 recommendations, while 147 suggestions have been forward to the planning division with favorable remarks.

He said agri loan for small farmers has been increased from 50,000 rupees to 75,000 rupees for a single crop. He said sales tax on the import of the machinery of small peter engines has been reduced from 20 percent to three percent. He said the concession announced in the budget for the services sector is being enhanced to IT enabled services.

The Minister said double sales tax on Islamic banking products is being abolished. He said the minimum wages for laborers are being set as 15,400 rupees per month. He said customs duty on the import of magnet for DC fans has been withdrawn.

Ishaq Dar said a special package is being prepared for the entertainment industry and revival of drama and film industry of Pakistan.

Taking floor of the National Assembly, Leader of Opposition Syed Khurshid Ahmad Shah said Prime Minister Nawaz Sharif should personally come to the Parliament and brief the House about his talks with Saudi leadership over the evolving situation in the Gulf region.

He said Prime Minister should take Parliament into confidence over Pakistan's future foreign policy regarding Gulf countries and 35-member Islamic Military Alliance.

Later, members belonging to opposition parties staged a walkout from the House to press their demand for live broadcast of the speech of Leader of the Opposition on PTV.

The National Assembly has approved 71 Demands for Grants relating to different ministries, divisions and departments for the next fiscal year.

These related to Climate Change, Commerce, Communications Division, Pakistan Post Office, Defence Division, Survey of Pakistan, Federal Government Educational Institutions, Defence Production Division, Housing and Works, Estate Offices, Federal Lodges, Human Rights Division, Industries and Production Division, Kashmir Affairs and Gilgit-Baltistan Division, Law and Justice Division, Council of Islamic Ideology, National Accountability, National Food Security and Research Division, National Health Services, Parliamentary Affairs, Petroleum and Natural Resources, Planning and Development, Pakistan Railways, Science and Technology, States and Frontier Regions and Inter-Provincial Coordination.

No cut motions were moved by the Opposition of these demands for grants.