News
Wednesday, October 12, 2011
CSF wrong claims to US blocked $2.5bn arrears: Dar* PLML-N senator urges government to tell public truth about delay in release of PTCL arrears
Staff Report
ISLAMABAD: Wrong billing claims of Coalition Support Fund (CSF) to United States is main reason for blocking of $2.5 billion CSF arrears and Pakistan should demand such arrears as matter of right not as charity, termed Pakistan Muslim League (N) Senator Ishaq Dar here on Tuesday.
Senate body met in the Parliament with Senator Ahmed Ali in the chair. Senator Ishaq Dar was of the view that truth should be explained to parliamentarians and billing must be real for early settlement of CSF arrears as this money had been spent from national kitty and should be returned back to Pakistan. He was of the view that Pakistan should take tough stance for release of these arrears as well as they should stop over invoicing of CSF claims.
He suggested that heads of the armed forces should be taken on board and authorities concerned should ensure real billing of such claims so to clear these arrears.
Dar also termed properties dispute with Etisalat as public statement from government and urged Ministry of Finance that truth should be brought in to the notice of the nation that illegal telephony international traffic was the main reason behind the delay in release of $800 million PTCL privatization arrears due against Etisalat.
Dar was of the view that country should suffer due to the illegal activities carried out by the influential in the government laden with credibility. This grey (illegal) telephony international traffic is depriving country from $800 million and on the other hand few influential and making money out of it causing loss to national reputation, the senator commented.
Senator Safdar Abbasi doubted government’s capability of handling the affairs of economy after taking decision not taking fresh IMF loan program. He was of the view that circular debt; rising deficits like budget deficit and current account deficit might affect economy during the ongoing fiscal year 2011-12.
Senator Haroon Khan commented on the floor that State Bank of Pakistan should continue reduction on policy of interest rate and efforts should be made to make power and gas available to export oriented industries to ensure higher economic growth in the current year.
He was of the view that reduction in interest rate by the SBP would not benefit the economy incase energy crisis was not resolved. He said that was the worst time for Global Depository Reciepts (GDRs), sale of the shares of national entities in international markets as well as floating of exchangeable bonds in international financial markets.
He cautioned the government that Pakistan was required to pay $1.l2 billion in 2011-12, $3.4 billion in 2012-13 and $3.5 billion in 2013-14 for repayment of IMF loan and affairs of economy should be managed carefully to aviod any crisis. He also suggested it that early import of LNG to overcome energy crisis and bridging gap between demand and supply in the country.
Senator Professor Khursheed was of the view that government should take steps for job creation, power generation and industrial revival for sustainable economic growth.
Senator Talha Mehmood said that Pakistan should mobilize it’s own resources through promotion of industrialisation and said that nations pay price of conditionalities attached to foreign aid.
Courtesy www.dailytimes.com.pk