Prime Minister Imran Khan
Islamabad … News Time
It is advisable to sell shares of state institutions to clear the debt. The auction of power plants and the sale of 2 companies will generate around Rs 4 trillion. According to the Express News report, the privatization board has pre-qualified 12 firms to participate in the auction of 2 power plants. It has also been approved to hire a financial advisor to sell OGDC and PPL shares, the privatization board also approved the sale of 27 properties owned by the auction operators through an open auction. For all these assets, a safe value of Rs 6.7 billion has also been set. The financial advisers have estimated the value of only one property at Rs 5 billion, while the remaining 26 assets are estimated at Rs 1.7 billion. The auction of power plants and the sale of two companies will generate around Rs 4 trillion which will help meet the budget deficit. Prime Minister Imran Khan wants to use all these assets to pay public debt, which is increasing by Rs 14 billion daily.
It was also claimed that in the first year of the Tehreek-e-Insaf Government, total government debt increased by Rs 9.3 trillion. In the current financial year, Rs 3.7 trillion was borrowed to meet the budget deficit. Due to the depreciation of the currency, it had to borrow Rs 2.6 trillion. It was reported that the current government received strong foreign exchange reserves in comparison to the N-League. In 2013, when the N-League formed the government, the reserves of the foreign exchange were about $ 11 billion. In 2018, the Tehreek-e-Insaf government received $ 16 billion 38 million reserves, Foreign exchange reserves stood at $ 11.5 billion in FY13, in 2014, foreign exchange reserves stood at $ 14 billion 14 million, Foreign exchange reserves in the year 2015 were $ 18 billion 692 billion. Foreign exchange reserves in 2016 were $ 23 billion 9.85 million dollars, Foreign exchange reserves in 2017 were $ 21 billion 40 million 29 million dollars, In 2018, foreign exchange reserves were $ 16 billion 286 million, Foreign exchange reserves in the year 2019 amounted to $ 14 billion 476 million, in July this year, foreign exchange reserves stood at $ 15 billion 955 million.
