Dialogues on economic reforms agenda on right track

Talking to media after the third round of dialogue between the parliamentary committees of the government and PML-N on Wednesday, Federal Minister for Finance Dr. Abdul Hafeez Shaikh informed that price control mechanism committee comprising the chief secretaries of the provinces would meet tomorrow (Thursday) and submit its suggestions to the government. File Photo

ISLAMABAD: Federal Minister for Finance Dr. Abdul Hafeez Shaikh here on Wednesday said that negotiations on national economic reforms agenda were heading in right direction resulting in the economic revival of the country.

Talking to media after the third round of dialogue between the parliamentary committees of the government and Pakistan Muslim League (N), he informed that price control mechanism committee comprising the chief secretaries of the provinces would meet tomorrow (Thursday) and submit its suggestions to the government.

Besides he said that the suggestions and the proposals of the petroleum price committee are being finalized, adding a judicial commission headed by a judge of Supreme Court or High Court has been formed to find out the reasons of sugar price hike in the country.

Governor State Bank of Pakistan (SBP) Shahid Hafeez Kardar said that the meeting was apprised of the details about loan write-off by the financial organizations.

We provided two lists of loan write-off, the first list was from 1971 to 2003 and the second was from 2003 to onward, he added.

Mr. Kardar said that 95 percent of total loan write-off consists of small loans amounting to Rs. 0.5 million or less than 0.5 million.

He informed that out of the total write-off 48 percent was! made by the foreign banks or financial organizations adding that the government borrowing from SBP had reached Rs. 155 billion till September 2010.

Talking on the occasion, Senator Ishaq Dar said that the government of Punjab has started to implement the policy of economic reforms and merged the seven organizations to save the national exchequer.

He said that PML-N would continue its unflinching support to the federal government for war against terror. He said that the war against terror was top priority of PML-N.

The next meeting of the Parliamentary Committee would be held on January 31 and then on February 2, however the sub committees would continue their deliberations on different issues.

Federal Minister for Information Qamar Zaman Kaira, Minister for Petroleum Syed Naveed Qamar, Minister for Law Dr. Babar Awan, Minister of State for Finance, Hina Rabbani Khar and Minister for Water and Power Raja Pervez Ashraf represented the government side while Senator Ishaq Dar, Mahtab Ahmad Abbasi and Pervez Rasheed represented the PML-N.


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