We should be concerned about what European countries will do to us after this statement. Federal Finance Minister Shaukat Tareen addressed a press conference




 PM criticizes EU, says Finance Minister Shaukat Tareen



 ISLAMABAD: Federal Finance Minister Shaukat Tareen has said that the Prime Minister should not have reacted publicly against the European Union, but it is the right of the Prime Minister to  Decide how to protect your country and its dignity.  Addressing a public meeting in Vehari last week, the Prime Minister had asked whether the European Union had asked India about violations of international law in occupied Kashmir.  He was referring to a letter from Pakistan urging Pakistan to join Russia in its condemnation of the invasion of Ukraine and to uphold the basic principles of the United Nations Charter and international law.  Raise your voice.


 Objecting to the letter, the Foreign Office stated that "we have taken note of this and in a subsequent meeting with a group of Safra, we have expressed our concern, as this is not a formality."  Addressing a press conference in Islamabad, Finance Minister Shaukat Tareen said that Prime Minister Imran Khan should not have publicly reacted against the European Union in his recent speech.  I criticized the EU ambassador for his non-diplomatic statement, which called on Pakistan to condemn Russia's invasion of Ukraine.


 Shaukat Tareen said that the Prime Minister had asked whether any of you had severed trade relations with India or objected to its illegal measures.  The Prime Minister asked the representatives of the European Union, "Are we slaves to act according to your wishes?"  I don't think we should worry about what European countries will do to us.


 The Finance Minister said that the representatives of the European Union had sent a letter to Pakistan asking it to vote against Russia, to which our Prime Minister only expressed his feelings. He said that the European Union, India  Pakistan has abstained from voting in the UN General Assembly.


 He said that the Prime Minister only gave his reaction in a public meeting which should not have happened. Defending the position of Prime Minister Imran Khan, Shaukat Tareen said that the European Union should not say what Pakistan should do and this Prime Minister.  They have the right to decide how to protect their country and its dignity.  He said that Pakistan has an independent foreign policy according to which no country should violate the sovereignty of the other and disputes should be resolved peacefully.  Responding to a question on the IMF's objections to the reduction in product prices, Shaukat Tareen said that we are providing a Rs 104 billion subsidy on petroleum products from our budget on which the IMF should not have any reservations.


 He said that Pakistan was neither increasing its fiscal deficit nor taking any loan to provide relief to the people. The government announced the subsidy due to the improvement in revenue.  Increasing the fiscal deficit and not taking any loans to provide relief to the people, the government announced subsidies due to improvement in acquisitions.


 Explaining that for the package, the finance minister said that the government had taken some money from the allocation of Ehsas program and some money from the budget of Coveid 19. He said that we also got profit from government agencies while there were many sectors from which the government  Raised money to make the aid package, I don't think the IMF should have a problem with that.  He said that it was the responsibility of the government to inform them of such decisions in view of the fears of political instability. He said that the country could not develop unless industry developed.  The package is aimed at reviving and strengthening ailing industries. The government has reduced the price of petrol and reduced the sales tax to zero.


 "We are better than 6 countries in our region, according to a survey conducted in 2003, and we are better than 3 countries," he said.  Improvements have been made, the country has been facilitated to invest and do business, Pakistan's image and perception is a big issue, we need to present our better image.


 He said that due to the political situation in the country and the global situation, a lot of good things do not come to the fore.  This is a decrease of 28% over the previous month and 35% over the previous month, after which our trade deficit has come down to 5, 600 million.


 Talking about inflation, the Finance Minister said that the inflation rate remained close to 13% in January, which came down to 12.2% this month, including rising prices of tomatoes due to crop failure.  If you subtract the price of tomatoes from the rate, this rate becomes close to 10%.  "We have managed to control prices locally, while global inflation has pushed up commodity prices around the world, so the president has told his people that for some time to come," he said.  Inflation will have to be tolerated. The Finance Minister said that the IT sector is very important for the country. The IT sector is very important for the country's exports.  Our government's initiatives will increase the country's exports in the IT sector.


 He said in response to a question about the Prime Minister's visit to China, "We talked about four things during the visit to China. During the visit, we talked about the obstacles in the C-Pack.  We talked about the need to help us in increasing agricultural production. Apart from this, important discussions were also held on cooperation in the IT sector and bilateral trade.  In addition, representatives of 22 major Chinese companies met with the Prime Minister and discussed multi-billion dollar projects.


 Federal Minister for Finance and Revenue Shaukat Tareen has said that Prime Minister Imran Khan has given relief in prices of petroleum products and electricity to save the people from the effects of the international cycle of inflation.  Measures have been taken to reduce trade deficit and inflation.


 He said that in pursuit of the tax target of Rs 5.8 trillion, it is estimated to collect Rs 6.1 trillion in revenue. After tobacco, now track and trace system is being introduced for petroleum.  The standard of living of the low-income sections of the society is being improved through programs and health cards. Opposition is aware of economic indicators and public welfare so they are putting pressure.


 The Federal Minister for Finance said that important issues related to the national economy have been lost in the political turmoil which need to be highlighted.  The company was paying Rs 78 billion per month in sales tax and levy on LAM products and Rs 27.5 billion per month in electricity prices.


 He said that sales tax on petroleum products has been reduced to zero while levy on petroleum products has also been significantly reduced.  The government is carrying such a heavy burden to provide relief to the people.


 The Finance Minister said that under the relief package announced by the Prime Minister, a subsidy of Rs. 5 per unit would be given to consumers using electricity up to Rs. 700 per unit.  An industrial relief package has been given for promotion. The main objective of the amnesty scheme is to increase industrialization. Amnesty scheme users will be required to set up industries before 2024. Beneficiaries of amnesty scheme and bank defaulters will not be able to participate in this.  Sick industrial units are also being rehabilitated.


 Shaukat Tareen said that the government has provided incentives for loss-making units for three years, including facilities for foreign investment. Overseas Pakistanis have been given five-year tax exemption on investments in special economic zones.  "This sector can play a significant role in reducing the trade deficit of Pakistan. The IT sector has grown by 70% this year and is expected to grow by 100% next year. Our goal is to increase exports to 50 50 billion in the next few years," the government said.  Capital gains tax on IT has been abolished, freelancers have been given privileges, investment in IT has been allowed to open foreign currency accounts.


 The finance minister said the country's trade deficit was declining, reaching 3. 3.1 billion in February, the highest level since the 19th quarter. The trade deficit had shrunk by 28 per cent last month.  If the price of tomatoes is taken out, it will be 10.8 percent. The period from November to February has seen a stabilization in the inflation rate.  Essential prices are high and we can't say when this will end.