Govt to announce export policy soon: Miftah.

ISLAMABAD -- Federal Minister for Finance and Revenue, Miftah Ismail on Monday said that the government would announce the export policy in coming few days. The minister said this while addressing the post-budget 2022-23 conference organized by the Institute of Charted Accountants of Pakistan (ICAP) here.

He said that in 2013 there was a circular debt of Rs. 505 billion and PML-N had paid a circular debt of Rs 480 billion. "This time around there is a circular debt of Rs. 2500 billion and this year alone has accrued more than Rs 1100 billion which is due to the subsidies given to the power sector," the minister said adding that power companies had incurred a loss of Rs. 500 billion and Rs.

Finance Minister Miftah Ismail said that at present there seemed to be no end to inflation. "If oil is expensive in the world, there is no solution," he said adding that the gas losses stood at Rs 1500 billion. The Minister said that Pakistan was at crossroads. "If we follow the right path, we will have to make very difficult decisions."

Miftah Ismai warned of a disaster if petrol and electricity prices were not increased. "If the IMF does not agree we will default, we will not be able to buy oil from the international market in July," he said adding that the government had to return $21 billion to the world next year.

"There will be a...