PM di­rects Fi­nance Min­istry to sub­mit de­tailed anal­y­sis on loans, ex­pen­di­ture

The Financial Daily - - FRONT PAGE -

Govt will audit new Is­lam­abad air­port; Project was sup­posed to com­plete at a cost of Rs38bn but Rs100bn is spent till now; PM calls for max­i­mum uti­liza­tion of job op­por­tu­ni­ties in Gulf

IS­LAM­ABAD: Deeply con­cerned over the alarm­ing rise in coun­try's for­eign debts from Rs six to 30 tril­lion in past ten years, Prime Min­is­ter Im­ran Khan Thurs­day di­rected the Fi­nance Min­istry to sub­mit a de­tailed anal­y­sis to know where the money was spent.

Chair­ing the Cab­i­net meet­ing at the PM Of­fice, the Prime Min­is­ter said the gov­ern­ment and the peo­ple of Pak­istan have the right to know where these huge amounts were spent and were these ben­e­fi­cial for the coun­try.

"Where was the money spent, on which projects? Did we build a dam? We need to know as we have to bor­row more loan to re­turn the in­stall­ments," Prime Min­is­ter Im­ran Khan said.

He asked the Fi­nance Min­istry to sub­mit its de­tailed anal­y­sis to the Fed­eral Cab­i­net and said it would also help cre­ate a bet­ter un­der­stand­ing about the loans and their im­pact on na­tional econ­omy.

"We will need much more funds to re­turn the en­tire loan. In­stead of cre­at­ing wealth, we will have to use our money to re­tire the debt," he pointed.

Re­fer­ring to the launch of his am­bi­tious Naya Pak­istan Hous­ing Pro­gram, the Prime Min­is­ter said the en­tire ad­min­is­tra­tive struc­ture for the project would be com­pleted on pri­or­ity and it would not only gen­er­ate eco­nomic ac­tiv­ity, but also add new en­trepreneurs, in­crease skills of the work­ers and cre­ate em­ploy­ment.

The Prime Min­is­ter in his ad­dress on the Naya Pak­istan Hous­ing pro­gram on Wed­nes­day said the coun­try would not have to face this sit­u­a­tion, had there been any check on the ram­pant cor­rup­tion in the coun­try in the past.

Mean­while, the gov­ern­ment will audit the new Is­lam­abad air­port.

In­for­ma­tion Min­is­ter Fawad Chaudhry re­marked that the project was sup­posed to be com­pleted at a cost of Rs38 bil­lion, but Rs100 bil­lion has been spent on it so far.

He was ad­dress­ing the me­dia af­ter a fed­eral cab­i­net meet­ing on Thurs­day.

On Tues­day, a man was in­jured af­ter a pas­sen­ger board­ing bridge col­lapsed at the air­port, Chaudhry said.

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