ISLAMABAD: Federal Minister for Finance Mohammad Ishaq Dar said on Monday that during Ramazan at Sehar, Iftar and Taraweeh times, there would be no loadshedding across the country.
"We have paid circular debt of Rs.322 billion to Independent Power Producers inherited from the previous government as gift and was not payable for the past may years would now produce 1700 MW of electricity after payment", he told media after inaugurating 2-day Microfinance Summit Pakistan 2013 here at local hotel this evening.
Minister for Finance said that as instructed by Prime Minister Mohammad Nawaz Sharif, who is the Chairman of the Energy Committee and asked him to convene the meeting of the committee to review the arrangements made to ensure that no load-management is under taken during the month of Ramazan during Sehar, Iftar and Taraweeh.
Replying to a question, the Minister said that IMF has appreciated the economic road-map announced by the PML-N government during the Budget 2013-14 and agreed on a US $ 5.3 billion package for Pakistan.
IMF, he said that Pakistan was moving in right direction in running its economy and policies were also towards path of recovery and right direction.
The Minister said that previous government tried its best to get the loan from the IMF but despite their hectic efforts they failed to get it.
He added that Pakistan has also requested for enhancing the agreed amount of US $ 5.3 billion to US $ 7.3 billion according to its due quota.
Senator Ishaq Dar said that PML-N government has inherited debt to GDP ratio of 63.5 percent which he said would be reduced to 2 percent of GDP every year and under 3-year medium term strategy the debt to GDP would be reduced to 59.5 percent in three years.
Finance Minister Senator Mohammad Ishaq Dar said that under roadmap for economic revival of economy microfinance facility to be enhanced from 2.5 million borrowers to upto 7.5 million to benefit maximum number of the people specially the poor.
He added that the PML-N government has enhanced Income Support Programme from Rs.40 billion to Rs.75 billion in budget 2013-14 to benefit the poor house hold.
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