Govt has arranged $5b financing as against IMF’s requirement of $4b.

ISLAMABAD    -   Finance Minister Miftah Ismail on Fri­day clarified the federal government has no intention of selling the shares of Roosevelt Hotel, New York, and the Pakistan International Airlines (PIA) to Qatar, as the friendly country is in­terested in getting the management control of Pakistan’s big airports, in­vesting in sea port and LNG plants.

Addressing a press conference here, the Minister informed that ex­ecutive board of the International Monetary Fund (IMF) would meet on coming Monday to approve the loan tranches for Pakistan worth $1.17 billion. He said that Pakistan had al­ready completed all prior actions in this regard. He briefed the media that Prime Minister Shehbaz Shairf’s visit to Qatar was successful as the friend­ly country has announced to invest $3 billion in Pakistan. 

Miftah Ismail clarified that there was no discussion about selling the shares of Roosevelt Hotel, New York, and PTI to Qatar. He explained that Qatar is interested in a long-term lease of Pakistan’s airports and man­agement control and not in buying them. It has also interested in invest­ing in sea port and LNG plants. Qatar also wanted to invest in solar system projection, as the government has decided to generate 8000 megawatt electricity from this system. “Final­ly, if all these things do not work out, and they also intent on helping Paki­stan, then the country will invest in Pakistan’s stock market,” Miftah said. However, the Prime Minister has in­formed them to hire an internation­al firm for the valuation of the LNG plants, he added.

The Finance Minister said that the government has arranged $5 billion financing as against IMF’s require­ment of $4 billion. He informed that Qatar would invest $3 billion, Saudi Arabia has also announced to invest $1 billion and United Arab Emirates would invest $1 billion in Pakistan. He said that Saudi Arabia might also provide oil worth one billion dollars on deferred payment.

To question, he said that the govern­ment can impose General Sales Tax on oil products if the Federal Board of Revenue (FBR) faces shortfall in tax collection. Currently, the government is not charging GST as it is collecting only petroleum levy on it.

Talking about the fuel price adjust­ment, Miftah said that the Prime Min­ister has also constituted a commit­tee to consider how the consumers using between 200 and 300 units can be facilitated. He clarified that those who have not yet paid the electricity bills will be issued with correct ones without fuel price adjustment. He said that for those who already have paid the bills, the adjustment will be made in their September bills.