ISLAMABAD, Jan 27: The Federal Cabinet Wednesday decided to increase across the board pay of army officers by 15% and of Jawans by 20 percent irrespective of their deployment in any part of the country.
The Federal Cabinet, which met here under Prime Minister Syed Yousuf Raza Gilani, formed a committee consisting of Finance and Interior Ministers to consult with Balochistan government to bring at par the pay of police personnel in the Province with other provinces.
The Cabinet was given a detailed briefing by the Finance Minister Shaukat Tarin about the economic situation and told that despite security situation, political instability and drought like conditions, the economy is showing positive trend and the GDP growth during the current financial year will be around 3.4 percent.
Addressing a joint news conference with Finance and Water and Power Ministers, Information Minister Qamar Zaman Kaira said presently officers and Jawans deployed on the western borders were being provided additional 15 and 20 percent pay respectively and this will now apply to officers and jawans all over the country. He pointed out that allowances of troops involved in operation against militants had already been doubled.
He said the Pay and Pension Committee will submit its report in March and civil servants pay will accordingly be increased from July next year.
He said the Cabinet approved the installation a new power plant at the side of obsolete plant at Guddu to generate 747 MW of power from the existing 200 MW. He said Trade Corporation of Pakistan (TCP) was asked to import five lac tons of sugar through open competitive bidding. He said Philippine government has offered to sell one million ton of sugar at comparatively less rates and it was ready to purchase rice from Pakistan in return.
A Pakistani delegation led by Food Minister Nazar Mohammad Gondal will be visiting Philippines for this purpose. However, he emphasized that sugar will be imported through open competitive bidding.
The Information Minister said it was also decided that Utility Stores would provide sugar to the consumers at Rs 10 per kg less than the retail market price.
He said the Cabinet reviewed the wheat situation and was informed that after meeting the requirements of the current year, there would be a surplus stock of three million tons which will be carried out to next year to meet any shortfall in the next wheat crop.
He, however, said the Cabinet fixed the wheat procurement target of 7.5 million tons for next crop and hoped that there would be no problem to achieve it. He said the Finance Minister has assured to provide required finance for procurement.
Finance Minister Shaukat Tarin said despite El-Nino affect, gas and power shortages the GDP growth for the current year is expected to touch 3.4% as against 2.5 percent last year He said exports in six months were $9.2 billion showing a drop of three percent while imports were of the order $ 16 billion showing a reduction of 16% and as a result the trade deficit came down to 29%. At the same time remittances from overseas Pakistanis increased y 24.5% and the current account deficit has shown improvement
The Finance Minister said inflation which was 23.3% last year has come down to 10.5%
He said Pakistan witnessed minimum increase of 11% in food prices as against World bank estimates of 22%, IMF 15% and FAO food index increase of 12% at global level.
Shaukat Tarin said the FBR will achieve revenue collection target of Rs 1380 billion. He said the country can collect another about Rs 750 billion more if all areas are brought under tax and leakages plugged.
He said about Rs. 1.5 trillion are being lost because of governance issues which is 8 to 10 percent of GDP.
He said the reforms are largely on track but needs to be accelerated which require greater political resolve and improved governance, empowerment of committees set up for restructuring and civil service reforms.
During the press conference, Raja Parvez Ashraf said the Asian Development Bank report into Rental Power Plants evaluation says that if 1200 MW of power is added through RPPs, there would be 6.1% increase in power charges and if 1900 MW is added, the increase in cost would be 9%.
He said the government is working to increase efficiency of old plants which have outlived their lives. PEPCO has started work at Jamshoro plant at a cost of $ 16 million which will generate 250MW. Also work has been taken up to install a new plant at Guddu, he added.
The Federal Cabinet, which met here under Prime Minister Syed Yousuf Raza Gilani, formed a committee consisting of Finance and Interior Ministers to consult with Balochistan government to bring at par the pay of police personnel in the Province with other provinces.
The Cabinet was given a detailed briefing by the Finance Minister Shaukat Tarin about the economic situation and told that despite security situation, political instability and drought like conditions, the economy is showing positive trend and the GDP growth during the current financial year will be around 3.4 percent.
Addressing a joint news conference with Finance and Water and Power Ministers, Information Minister Qamar Zaman Kaira said presently officers and Jawans deployed on the western borders were being provided additional 15 and 20 percent pay respectively and this will now apply to officers and jawans all over the country. He pointed out that allowances of troops involved in operation against militants had already been doubled.
He said the Pay and Pension Committee will submit its report in March and civil servants pay will accordingly be increased from July next year.
He said the Cabinet approved the installation a new power plant at the side of obsolete plant at Guddu to generate 747 MW of power from the existing 200 MW. He said Trade Corporation of Pakistan (TCP) was asked to import five lac tons of sugar through open competitive bidding. He said Philippine government has offered to sell one million ton of sugar at comparatively less rates and it was ready to purchase rice from Pakistan in return.
A Pakistani delegation led by Food Minister Nazar Mohammad Gondal will be visiting Philippines for this purpose. However, he emphasized that sugar will be imported through open competitive bidding.
The Information Minister said it was also decided that Utility Stores would provide sugar to the consumers at Rs 10 per kg less than the retail market price.
He said the Cabinet reviewed the wheat situation and was informed that after meeting the requirements of the current year, there would be a surplus stock of three million tons which will be carried out to next year to meet any shortfall in the next wheat crop.
He, however, said the Cabinet fixed the wheat procurement target of 7.5 million tons for next crop and hoped that there would be no problem to achieve it. He said the Finance Minister has assured to provide required finance for procurement.
Finance Minister Shaukat Tarin said despite El-Nino affect, gas and power shortages the GDP growth for the current year is expected to touch 3.4% as against 2.5 percent last year He said exports in six months were $9.2 billion showing a drop of three percent while imports were of the order $ 16 billion showing a reduction of 16% and as a result the trade deficit came down to 29%. At the same time remittances from overseas Pakistanis increased y 24.5% and the current account deficit has shown improvement
The Finance Minister said inflation which was 23.3% last year has come down to 10.5%
He said Pakistan witnessed minimum increase of 11% in food prices as against World bank estimates of 22%, IMF 15% and FAO food index increase of 12% at global level.
Shaukat Tarin said the FBR will achieve revenue collection target of Rs 1380 billion. He said the country can collect another about Rs 750 billion more if all areas are brought under tax and leakages plugged.
He said about Rs. 1.5 trillion are being lost because of governance issues which is 8 to 10 percent of GDP.
He said the reforms are largely on track but needs to be accelerated which require greater political resolve and improved governance, empowerment of committees set up for restructuring and civil service reforms.
During the press conference, Raja Parvez Ashraf said the Asian Development Bank report into Rental Power Plants evaluation says that if 1200 MW of power is added through RPPs, there would be 6.1% increase in power charges and if 1900 MW is added, the increase in cost would be 9%.
He said the government is working to increase efficiency of old plants which have outlived their lives. PEPCO has started work at Jamshoro plant at a cost of $ 16 million which will generate 250MW. Also work has been taken up to install a new plant at Guddu, he added.
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