PTI govt beat PML-N in borrowing

ISLAMABAD: The federal Cabinet was briefed in detail about foreign debt and it was revealed that incumbent PTI government inherited Rs 30 trillion debt from previous regimes. PTI Government during the last two years got foreign debts of 24 billion dollars, which also include two billion dollars of debt taken during the interim government in 2018.

Prime Minister Imran Khan chaired the Cabinet meeting yesterday and the federal Cabinet was briefed that during erstwhile regimes in connection of payment of foreign debts, 5.5 billion dollars were paid annually but during the incumbent Government of PTI, the Government has been paying 10 billion dollars annually in connection of foreign debts each year since last two years.

The federal cabinet was briefed that during 2019, 7.7 trillion rupees loan was increased in government loans with objectives to restore actual rate of Rs.3.1 trillion.

Owing to Covid-19 in the fiscal year 2020, the government has to face the loss of one trillion rupees income and Rs 2.1 trillion rupees instalment was paid regarding debts of former Governments. NLCC surveys 129,072 hectares, no locust traced

The federal Cabinet was informed that primary deficit during 2019, witnessed a reduction from 1.5 trillion to 1 trillion in 2020.

The federal Cabinet was also informed that volume of circular debt in 2018 was Rs.450 billion rupees and if the PTI government had not initiated appropriate arrangements, this volume should have reached up to Rs 853 billions in 2020.

Due to positive steps of PTI government, volume of circular debt witnessed a reduction of Rs.300bn rupees.

The federal Cabinet was also informed that educational activities all over the country are being resumed from September 30.

He said that educational circle for 30 million children will be restarted soon will observation of Standard Operating Procedures SOPs against Coronavirus.

The federal Cabinet was also briefed that owing to better arrangements of PTI Government, transmission and distribution losses of power plants reduced up to 17.7 per cent and upto 2023, these T and D losses will further reduced to 16.3 percent.

The federal Cabinet was further informed that a transparent and cohesive mechanism is being observed to enhance recovery from power sector.

The Cabinet was informed that British Airline Virgin Atlantic has been allowed to start flights between Pakistan and UK. This approval has been made in accordance of agreement between Pakistan and UK. 

In accordance of this agreement, British Airways, PIA and Airblue and Shaheen Air were carrying out service between pakistan and UK  ahead of this.

The federal Cabinet was also briefed about installation of Telemetry System inquiry Report.

The federal Cabinet also approved appointment of Ahmed Nawaz Sukhera as Administrator Islamabad Club.

The federal Cabinet also approved decisions taken by Economic Coordination Committee meeting on September 23rd 2020.

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