Pakistan : Foreign debts increased by $5.40 billion during current..

ISLAMABAD (Dunya News) – While addressing to a seminar of the Securities and Exchange Commission of Pakistan (SECP) based on the draft regarding the Companies Bill, Federal Finance Minister Ishaq Dar stated that the foreign debts of the country have risen by $5.40 during the tenure of the current government, reported Dunya News.
Dar said that the International Monetary Fund (IMF) program was part of the manifesto of the government. He added that the revenues of the country increased by 18% during the ongoing year and that the growth rate increased by 4.3% whereas the remittances raised over $19 billion.
Finance Minister said that because of the ongoing Operation Zarb-e-Azb and various other factors, it has become difficult to achieve the set growth rate. He added that the government is focusing upon introducing reforms in different laws and that work has been completed regarding the draft of the Companies Bill 2016. Dar was optimistic that, similar to the Companies law, legislation will be done in regards to general elections
He stated that caution needed to be taken while dealing with funds catering to International Non-Governmental Organisations (INGOs) in order to make sure they were not used to finance acts of terrorism in the country, adding that the arrest of a member of Indian intelligence agency Research and Analysis Wing (RAW) from Balochistan had raised questions about financing of terrorists.
Dar said that in the past, funds of NGOs had been used to fuel terrorist activities and separatist movements in the country and he expressed the need of the registration of the NGOs in order to curb the financing of all such activities. He said that 99% NGOs in the country were doing a good job.