ISLAMABAD, March 11: The government has earned a revenue of Rs142.9 million from different hotels and restaurants of Murree from 1997 to 2003-04, Finance Minister Shaukat Aziz told the National Assembly on Thursday.

Replying to a question of Ghulam Murtaza Satti, the minister said the Central Board of Revenue (CBR) had collected Rs0.8 million in 1997-98 as tax from the hotels and restaurants of Murree, while the revenue increased to Rs13.9 million in 1998-99, Rs10.6 million in 1999-00, Rs31.1 million in 2000-01, Rs32.2 million in 2001-02, Rs35.9 million in 2002-03 and Rs18.4 million up to September 2003-04.

To a question as to why the CBR could earn only Rs0.8 million in 1997-98 when in the corresponding year it had earned Rs13.9 million, the minister said the revenue record was not credible because it got destroyed during the Leh Nullah floods. However, he added, steps had been taken to protect the records by feeding these both in the computers as well as on papers.

To another question, the minister said the government was not considering to provide Rs1500 and Rs2,000 per month to the federal government employees as a relief package to pay utility bills because any such decision would pose an unsustainable burden on the government kitty.

Similarly, he said, no proposal was under consideration to reduce the government service for pension from 25 years to 20 years as any such decision would also increase the pension liabilities of the government to manifold causing unaffordable burden on the public exchequer.

The finance minister said ad hoc employees in different federal government departments were entitled to 15 per cent increase in salaries announced in the federal budget of 2003-04. But the contract and daily wage employees are not entitled to any such benefit, he said.

He said the rate of return on National Savings Schemes (NSS) had been linked with the yield on Pakistan Investment Bonds (PIBs), which was reviewed biannually in January and July with reference to yield on market based PIBs.

As the yield on these securities declined, therefore, the return on NSS was also reduced. However the rates are adjusted upwards if the money market moves in the upward direction, he said.

The profit rate on NSS would automatically improve with improvement in the yield of PIBs, however, the return on NSS is still better than other instruments of same maturity in the market, he said.