Government saved the country from bankruptcy : Miftah

Minister for Finance Miftah Ismail says  the government has taken measures to protect the poor as 6 million families having income less than 40,000 rupees will be provided monthly stipend of 2000 rupees.

Speaking at news conference along with Minister for Information and Broadcasting, Marriyum Aurangzeb in Islamabad on Thursday, he said one million families have already been registered for the purpose.

The Finance Minister said the government has provided relief to poor people by shifting burden of tax on rich people.

He said by taking tough decisions, the incumbent government has saved Pakistan from default as the previous regime had pushed it to the verge of bankruptcy.

Miftah Ismael said the government saved the country from bankruptcy by taking tough decision of  increasing diesel and petrol prices and by continuously engaging  with International Monetary Fund.

He said Pakistan is now returning to better financial position citing the increase in value of rupee against dollar and performance of Pakistan Stock Exchange as examples of the progress.

The Minister said unlike PTI government that used to impose taxes on consumption that hit the poor, the incumbent government has taxed the rich.

He said the people having annual income of 150 million rupees would pay 1 percent more tax whereas those with income of 200 million, 250 million, and 300 million would be imposed additional taxes of 2 percent, 3 percent and 4 percent respectively.

He said, during its four year tenure, the PTI government enhanced debt burden from 25000 billion rupees to 45000 billion rupees recording an increase of 80 percent.

The Minister said 2.3 billion dollar loan from China is expected to be transferred by Monday and  China also reloaded the safe deposits that were due in June and July.

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