Hiking price of electricity not impact on exporters, says Dr Ishrat

WASHINGTON (92 News) – Prime Minister Imran Khan’s Adviser on Institutional Reforms and Austerity Dr Ishrat Husain said that the hike in price of electricity would not impact on the exporters. Speaking at the Pakistan Policy Symposium in Washington, Dr Ishrat said that Pakistan’s defence expenditure is not the large amount, adding that defence expenditures takes up only three per cent of the gross domestic product (GDP). “The country is facing economic crisis due to big problem of debt payment that is the country’s major challenge. It is the payment of debt amounting up to Rs1,500 billion,” he mentioned. The economist explained that the government decided to approach the International Monetary Fund (IMF) as the country’s financial gap is wide. He added that the public interest would be considered during talks with IMF. The PM adviser said that In Pakistan, as more as 1.2 million people pay taxes, if the taxpayers people increased just only 2 million that would be proved positive impact for the economy of Pakistan. Responding to the electricity crisis of the country, Dr Ishrat said it was under control, but the country was facing issues because of some distribution companies. On the other hand, Dr Husain said that a decision has been taken to reform the Federal Board of Revenue (FBR) on technical grounds so that the money collected in taxes can be increased and those defaulting on payment can be identified.