Federal Finance Minister Asad Umar has said that action will be taken against 4,000 people owning properties in Dubai. In an interview with Aaj News programme Faisla Aap Ka's host, Asma Shirazi, on Thursday, the finance minister further said that action would also be taken against people involved in currency smuggling, hundi and hawala.
"It is important for us to broaden the tax base and improve FBR's performance. The Prime Minister has been given a detailed presentation in this regard for one and half hours," he said. Umar also spoke on arrangements with the IMF, China, Saudi Arabia and trade ties with Iran.
"China wants Pakistan not to publicise certain things because other countries raise objections," he said, adding that "if a friendly country help us and advises us in our own interest not to publicise that then we need to give due consideration of its advice and act accordingly.
The Finance Minister said that technical talks with the IMF had begun and most of IMF's conditions were in accordance with the ruling PTI's manifesto. It would be Pakistan's 19th IMF programme and the IMF would not talk beyond the domain of economy.
"We are answerable to the Parliament but timing also matters. Disclosures during talks will create problems; therefore, we will share details once an agreement is reached," he said.
He further said that four federal secretaries and Governor State Bank of Pakistan would hold a meeting and then most of the things would be made public. He said that exports to China would see an increase of at least $3billion.
"Why will I conceal information? I have no plan to buy apartments in Parkland, Surrey Palace (in UK) or Towers in Dubai," he said.
Umar said that reduced exports was the reason behind seeking IMF lending. He argued that country has to seek loan when foreign exchange reserves decrease alarmingly. He said exports have to be enhanced to get country out of the quagmire of debts. He said the PTI government shared truth with nation because budget deficit had touched Rs 900 billion.
"(Value of US) dollar should be decided on the basis of economy and it is responsibility of State Bank," he said, adding that economy was destroyed by luring exchange rate into a political slogan.
He said that as per Constitution, provinces rights cannot be revoked. He said although it is not easy to run affairs smoothly due to financial constraints, it doesn't mean that provinces are deprived of their shares. He said that temporarily, provinces may also become part of the solution.
The Minister rebuffed US assertions and said that only 10 percent of Pakistan's total debt came from China while 90 percent of debt from other sources.
Umar said that trade with Afghanistan would be improved.
"Pakistan has old cultural relations with Iran. Half of our family members can read and speak Persian," he said, adding that if Iran is willing, Iran must invest in Pakistan. He said trade with Iran was of nearly $1.5 billion.
He clarified that Saudi Arabia put no condition and told the Prime Minister that Pakistan is a brotherly country and the kingdom would stand with him. He said government would welcome Saudi investment too.
The Finance Minister said that 96,000 Pakistanis have bank accounts in 27 countries and government has got their information.
"The government is trying its level best to stop laundering of money from Pakistan and also to bring siphoned-off money back to the country," he said.
He further said that hacking was reported only in one bank and State Bank was probing regarding bank accounts data. He said fraud is also made with a credit card holder at a shop.
Umar said that government had planned to take initial steps in first 100 days on the basis of which further improvements would be made. He reiterated that change would be visible in the third year of incumbent government's tenure.
The Minister said that government had not put burden of hike in gas and electricity prices on the poor, residential consumers and small traders. He said 145% rise in gas price was for only rich people. He said poor people mostly buy LPG cylinders.
He said Pakistan managed to get Saudi Arabia's and China's financial assistance after two months of negotiations.
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