Saturday, 01 October 2022, 03:02:39 am
Pakistan to start using Saudi oil facility on deferred payment from next month: Senate informed
February 11, 2022

File photo

The Senate was informed on Friday that Pakistan will start using Saudi oil facility on deferred payment from next month.   

Finance Minister, Shaukat Tarin told the House during Question Hour that government has tried not to pass on to people the full burden of international increase in petroleum products.

He said we have reduced sales tax and Petroleum Development Levy on petroleum products to provide relief to the masses.                 

The Finance Minister said foreign exchange reserves of State Bank of Pakistan have increased over the last one year which will help reduce pressure on the rupee.

He said country’s exports and remittances are increasing whilst the trade deficit reduced by 1.5 billion dollars last month.

Responding to a supplementary question, Finance Minister said Pakistan has met twenty seven out of twenty eight conditions of Financial Action Task Force.

He hoped that country will come out of the grey list in next review meeting of FATF.

Minister for Science and Technology, Shibli Faraz told the House that Punjab and Khyber Pakhtunkhwa governments have started important projects for provision of clean drinking water.

Minister of State for Parliamentary Affairs, Ali Muhammad Khan said several projects worth billions of rupees have been launched for the development of Balochistan and Gwadar.

Taking the floor, Leader of the House in the Senate Shahzad Waseem said Pakistan wants cordial relations with all the countries including the United States.

He categorically stated that Pakistan is not part of any camp. He regretted that silence of international human rights over rising religious hatred and extremism in India saying worst form of Islamophobia is being seen in India which poses threat to peace and stability.

Later, the House was adjourned to meet again on Monday at three pm.