Rs100-150 billion refund pending since 6 to 7 yrs paid: Shahbaz Gill

SIALKOT: The foreign exchange reserves in the country reached 20 billion rupees due to effective strategies of the government led by Prime Minister Imran Khan, said Shahbaz Gill, Special Assistant to PM here.

While addressing a press conference on Wednesday, he said that PTI government, in order to render Faisalabad textile sector viable and competitive internationally, cleared 100-150 billion rupees refund pending for the last 6 to 7 years in the district.

The refund would benefit not only the industrialists but the labor class also and thus bring boom in the industry, he said.

He said as many as 50,000 power looms suffering losses had been shut down in the past due to non-payments, but "now they are functioning and 150,000 laborers have resumed their livelihood". He said another 30,000 power looms would be setup in Faisalabad.

He said the Faisalabad textile industry, during their meeting few weeks back with Premier, had explained that they faced shortage of at least 200,000 workers.

He said industrialists in Sialkot also faced similar issue of labour shortage as industrial units were being revived.

He cited that the industries which earlier shifted to other countries like Bangladesh,South Africa etc were now coming back to Pakistan.

Shehbaz Gill highlighted that the non-tax revenue in the country increased from Rs. 427 billion to Rs. 1524 billion ,saying it would help the government provide more subsidies, strengthen healthcare facilities such as the program announced by CM Punjab for health insurance which was to become functional by December 2021, and benefit common man.

He appreciated the efforts of Federal Minister for Industries Hammad Azhar who has introduced a new system through which Rs. 32 billion revenue has been generated, whereas it was Rs. 22 billion in past.

He said the incumbent government increased revenues also by reducing its own expenses from the first day.

The expense of PM house was reduced by 70pc during first year, and 60pc in the second year.

"Prime Minister has no "camp house", lived in his own house, and paid his utility bills from his own pocket", adding that the Prime Minister Imran Khan from the day one focused on generating employment for youth and poor strata to boost economy of the country.