Govt Announces Plan to Sell Institutions on a Monthly Basis to Ease Financial Burden on Treasury...

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00:00The delegation of the IMF is present in Pakistan.

00:02Today, when the Cabinet had a meeting, the Prime Minister also told the Cabinet,

00:07that the various government ministries are successfully resolving the issue.

00:15Now, what are the things that are being resolved in these matters,

00:19what are the demands of the IMF that we are going to meet,

00:22Mr. Shoaib Nizami is present with us, let's know from him.

00:24Now, it is being said that some institutions have to be privatized as soon as possible.

00:30Tell us about that and the news that the money has come under stress.

00:36Look, there is a whole plan of privatization that is being discussed,

00:39and the problem is that the report that has come out,

00:42there are losses of Rs. 864 billion in SOEs,

00:45and these SOEs have not been privatized for the last 20 years.

00:50So, now the situation is a do or die situation.

00:52How many losses? Rs. 800?

00:53Rs. 864 billion in the last year.

00:55In the last year?

00:56Yes, in the last year.

00:57And in the last 10 years, these losses have been around Rs. 6 trillion.

01:01This is such a big amount, in which 3 or 4 dams are built,

01:04the entire ML-1 is built.

01:06All these losses are happening because of the efficiency issues,

01:09they are not being privatized.

01:11Now, the three discourses that are coming on the top priority,

01:14the ISCO, FESCO, and similarly the Gujranwala one,

01:18the House Building Finance Corporation is coming,

01:20the Women's Bank is coming, the PIA is coming,

01:22all these top priorities have to be done within 6 months,

01:25so that their losses can be reduced to some extent.

01:28You are saying that they have to be done within 6 months?

01:30Yes, they have to be privatized.

01:31Okay, right.

01:32Because we had asked for relief from them in the power tariff yesterday,

01:35it is related to this that when you reduce their losses,

01:39then there will be a slight decrease in the power tariff.

01:42But along with that, the capacity charges,

01:44which is our circular debt,

01:46for that, there is a risk of an increase of up to Rs. 3,

01:49and if we take a loan from the banks and reduce the circular debt,

01:54then its capacity charges will be around Rs. 2.80,

01:57and that will be in the electricity bills for 5 years.

02:00So, this will be a difficult decision.

02:02Along with the four discourses,

02:04the issues of agriculture income tax have been finalized,

02:08and today, a schedule will be announced as to when it will be implemented.

02:13Along with this…

02:14Okay, my question is that the money is in a bit of pressure right now.

02:17Some people think that this will lead to further devaluation.

02:20What is the news regarding this?

02:22No, actually, the IMF does not tell us what rate to take out.

02:25It says that whatever the market forces are,

02:27because of this, whatever rate will be made, will be made.

02:30So, apparently, the circumstances seem to be,

02:32like the Trump government is doing,

02:34and tariffs, and a panic has been created all over the world.

02:38That is why, when we saw yesterday,

02:41that in the monetary policy of the State Bank,

02:44the interest rate was maintained,

02:46the reason for this was that the international shocks are still pressurizing,

02:50and there is a risk to the government,

02:52that even if we reduce it a little,

02:54then our core inflation, which is at 8.5,

02:56may not exceed.

02:57That is why the government has maintained it,

02:59so that the demand…

03:00Ma'am, let me ask you a question.

03:02Mr. Chaudhary Ghulam,

03:03this matter of privatization,

03:06I have also been observing it for the past two decades,

03:09it is always in the view of politics.

03:12Whatever government comes into power,

03:15a political party,

03:16because the only way is that,

03:18it is not possible to waste 1 trillion rupees every year,

03:21and when 1 trillion will come out of your economy,

03:24will come out of your treasury,

03:26and there will be no benefit of it,

03:28then how can your economy be sustainable?

03:30Like, last year, 864 billion rupees,

03:33now it has been said that for 10 years,

03:35I don't know, you have wasted 10 trillion rupees.

03:37So, how will this willpower come,

03:40how will it be possible,

03:42what kind of strategy will have to be put in place,

03:44that whichever party is in power,

03:48it should be above politics,

03:51and should be laser-focused on the issues of national interest.

04:00Mr. Chaudhary.

04:02No, there is only one way for this,

04:04the rules that have been made,

04:06according to that, opt for it.

04:08Yesterday, I met a party,

04:10to buy PIA,

04:12they have been sitting here for 6 months,

04:15they have no future,

04:17now they have said,

04:18by July, we will privatize or disinvest PIA.

04:23If they take this decision,

04:25take these bitter pills,

04:27and move forward,

04:29then nothing like it,

04:31but now I don't see any will.

04:34If you have any questions for Mr. Shoaib,

04:37you can ask them too, Mr. Chaudhary.

04:41Mr. Shoaib, Mr. Nizami gives us good news,

04:44but after that, we see the ground reality,

04:47people come to behead us,

04:49that what were you,

04:51prices have gone down,

04:52everything is on fire,

04:54and you are talking to the sky.

04:56Mr. Nizami, give us some good, authentic news.

04:59I will rephrase your question,

05:02news is coming that electricity is going to be cheaper,

05:05every day there is news that

05:07electricity is going to be cheaper,

05:09how much is electricity going to be cheaper?

05:11See, we are talking about 2 rupees,

05:13and it will be in our fiscal year,

05:16but the problem is,

05:18the 605 lakh rupees tax shortfall,

05:21is hanging on the head of the people.

05:24The government is trying,

05:26like in the Supreme Court,

05:27our case, the super tax case,

05:29its hearing will be on a daily basis.

05:31How much money is stuck there?

05:33It is expected to be 3 billion rupees.

05:35And this case,

05:37it was for a year,

05:39for Operation Zarb-e-Azab,

05:41so the case is not very strong,

05:43of the government of Pakistan.

05:44But if the government wants to defend itself,

05:46because till now the situation is the same,

05:48and the influence is still there,

05:49it has not been populated properly.

05:51So cases like this,

05:53there are cases of 3.7 trillion rupees in the FBR,

05:56the FBR taxes cases,

05:58are around 37 billion rupees.

06:00If that is there,

06:01then there is hope,

06:03that the taxes cases,

06:05will not be taxed further.

06:07But,

06:08because we are going to get carbon funding,

06:10then there is a risk,

06:11that in Pakistan,

06:12the carbon levy,

06:13on petrol,

06:14on diesel,

06:15on coal-fired houses,

06:17similarly,

06:18on EV cars,

06:19the IMF has clearly said,

06:21that these are the rich people of Pakistan,

06:23you should not impose any tax on them.

06:25Similarly,

06:26you should not impose any tax on their batteries.

06:28So,

06:29the solar energy,

06:30which is to be purchased per unit,

06:32should be standardised.

06:33Yes,

06:34solar is also being said,

06:35that the rich people of Pakistan,

06:36are getting solar installed.

06:37So,

06:38in some way,

06:39in terms of carbon,

06:40they should be encouraged.

06:41But,

06:42it is also important,

06:43that the capacity charges,

06:44how will you take them.

06:45So,

06:46there is a possibility,

06:47that here too,

06:48there is some government.

06:49Ok,

06:50so now,

06:51you are going to impose taxes on 600 billion people,

06:53what is to be done?

06:54Where is it to be done?

06:55How is it to be done?

06:56Ok,

06:57so,

06:58please tell us,

06:59this sugar,

07:00what is the story behind it?

07:012 months back,

07:02they exported the wafer,

07:03there was no problem.

07:05Now,

07:06it is told,

07:07that they are importing sugar out of the market,

07:09so that it can be managed.

07:11As of now,

07:12as of today,

07:13how much are our stocks?

07:14Why is the cost,

07:15the 14th,

07:1615th week,

07:17the week,

07:18the price of sugar is increasing?

07:20Our stocks are there for 7.5 months,

07:22we have 3.5 lakh tonnes of sugar.

07:26and this is enough for seven and a half months, we can easily do it by mid-November.

07:32The Prime Minister is continuously telling them to reduce the price of sugar,

07:37but the PSMA and its people are very powerful people,

07:41they make governments, they sit in governments,

07:44so they don't want to incur any kind of loss on themselves.

07:48And they are also very helpless that they have been facing losses of Rs. 2.5 billion in sugar since two years.

07:54And this is the reality in the stock market,

07:57the four sugars that we have got are showing all kinds of losses.

08:00But the problem is that the price is being paid by the people,

08:04so this is why the government has decided, whether it will be implemented or not.

08:07But if sugar comes to Pakistan and we refine it and export it,

08:11then this will also be a good decision,

08:13but this will definitely lead to a decision that there is going to be a shortage in Pakistan,

08:18so nothing like this is going to happen.

08:20Thank you very much, Mr. Shoaib Nizami.

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