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No guarantee to retrieve billions from Swiss banks: Dar

No guarantee to retrieve billions from Swiss banks: Dar

ISLAMABAD: Federal Minister for Finance Mohammad Ishaq Dar said that there is no guarantee to bring back Pakistani billions of dollars from Swiss banks. He was chairing a meeting on annual review of economic performance of government.
“We had put economy of country on track” Federal Minister claimed. He revealed that circular debt of Pakistan was more than Rs 263 billion and external debt is Rs 15 trillion.
He said government is going to auction two more 3G and 4G licence which will help increase in national exchequer. “Both parliamentarians and common citizens were equal in the eyes of Federal Board of Revenue (FBR) and have to pay their due tax on time,” he added.
Federal Minister admitted that 50 per cent of country’s population has been living below poverty line and assured that government will leave no stone un-turned to alleviate their standard of living.
While responding to a question about recent political upheaval and long march, Mr Dar said that PM Nawaz is not going to resign and government will continue its development voyage.
“Economic progress ratio has touched 4.4 percent first time in six years and export ratio increased 2.73 per cent” he claimed in annual review of economic performance of country. He said that government has spent Rs 441 billion instead of reviewed allocation of Rs 425 billion on developmental projects. He also vowed to increase the number of families’ beneficiaries of Benazir Income Support Programme to 5,300,000 from 4,100,000.
He said that rupees term has increased 44.44 per cent and dollar 43.75 per cent in market capitalization of Karachi Stock Exchange (KSE).
Dar said that government tax policies has increased FBR revenue 16.44 per cent and decreased economic deficit to 5.7 per cent from 7.6 per cent.