Tax collection had enhanced 17pc before Covid-19: Asad Umar

Minister for Planning and Development says that the current account deficit had reduced by 73pc by March.

ISLAMABAD: Planning and Development Minister Asad Umar has clarified that tax collection had been enhanced by about 17 per cent by February this year, before the outbreak of Covid-19.

Speaking in the National Assembly on Monday, Asad Umar disputed the figures quoted by Pakistan Muslim League-Nawaz (PML-N) leader Khawaja Asif, saying that foreign direct investment in the country actually doubled when compared with the previous year.

Umar said that Pakistan’s foreign exchange reserves had also increased by 50 per cent, which strengthened the value of the domestic currency. Pakistan’s current account deficit had reduced by 73 per cent by March this year, he added.

Referring to the projects to be executed in Karachi, the minister said that the green line project would be completed this year while the first phase of Karachi Circular Railway would also be initiated during the current year.

He said that work on the Rs206 billion Sukkur-Hyderabad Motorway project would be started this year; Rs50 billion has been allocated for the project in the current year.

The minister said that the K-4 water project would also be executed with the cooperation of the Sindh government.

He highlighted that the federal government had simultaneously initiated work on three major hydel projects, including Diamer Basha, Dasu and Mohmand dams.

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