Govt retired $9.5 bln of debt this year: Azhar tells NA

Govt retired USD 9 bln of debt this year - Azhar tells NA
Islamabad: Responding to points of opposition members, Minister of State for Revenue Hammad Azhar said the present government is taking the economy towards stability.

He said previous governments are responsible for the current economic situation of the country.

Hammad Azhar the PML-N government put the economic stability of the country at stake during its last two years in power. He pointed out that Foreign Exchange Reserves declined by ten billion dollars in the last one and half year tenure of PML-N.

He said the current account deficit also soared to 20 billion dollars during their tenure. He said the present government has reduced the current account deficit by 20 percent and trade deficit by 4 billion dollars. He said the previous government left behind the circular debt of 1140 billion rupees while we have enhanced the revenue of both power and gas sectors by launching successful drive against their pilferage.