ISLAMABAD: The government of Pakistan has decided to drastically reduce subsidies in the new budget and squeeze out higher amounts of surplus from the provinces to meet fiscal deficit limits set under international commitments.
Pakistan and the International Monetary Fund (IMF) agreed this month on a fiscal deficit target of 4.8 percent of the GDP (Rs1.63tr) for next year against 5.7 percent estimated for the current year.
The government has decided to reduce overall subsidies to Rs229bn from Rs338bn this year - a reduction of over 32 percent.
The target for subsidies this year had been set at Rs270bn but increasing requirements of the power sector because of poor recovery of bills compelled the government to increase the amount.
Govt to receive $10bn WB loan
ISLAMABAD: The Nawaz Sharif led government of Pakistan will receive the highest-ever foreign inflows in the shape of loans and grants of over $10bn during 2014-15, it was learnt yesterday.
Following the resumption of the World Bank and Asian Development Bank loans, as well as increased foreign loans and grants from bilateral creditors, the government is expecting foreign inflows of up to $10bn against the estimates of $5.76bn in the budget 2013-14.
“The net lending will stand at over Rs650bn in the next budget as foreign inflows will cross the Rs1,000bn mark and can touch Rs1,050bn while repayment of loans in the shape of amortisation will consume almost Rs400bn,” said the official sources.
Polio points set up in tribal belt
PESHAWAR: Vaccination counters are being set up at all agency headquarters hospitals of Pakistan’s northwestern Federally Administered Tribal Areas to provide oral polio vaccination certificates to all those travelling abroad from the region to implement the World Health Organisation’s (WHO) recommendation for vaccinating all Pakistanis boarding international flights.
The authorities insist they’re hopeful that the Taliban will not hamper vaccination of adults for Haj, Umrah and jobs in parts of Fata, where they had banned the children’s vaccination.
“The counters will begin operations in the next few days. Arrangements have been made to fulfil the WHO recommendation by providing OPV to all those flying out of the country,” Fata director Dr Pervez Kamal said. AGENCIES
