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Export Oriented Sectors to Get Subsidized Power on Accrual: Tarin

Islamabad: According to Minister of Finance and Revenue Shaukat Tarin, the government would use a more focused method for disbursement when allocating electricity subsidies for the upcoming budget based on real consumption.

Read More: Flow of Funds from Abroad Reaches a Record High of USD 20 Billion

Different possibilities for concessional tariff were addressed during the conference, along with their effects on subsidies, profitability, production, and revenue generation. Everyone agreed that a database needed to be created in order to show the connection between tariff growth and the development of export-oriented industries.

It was also noted that the government’s lowest cost units had contributed to the general productive health of the economy, particularly in industries focused on exports.

The government should create a budget that is development-oriented for the fiscal year 2021–2022 (FY22), with the major goals being to increase GDP growth and combat inflation, according to Prime Minister Imran Khan earlier on May 3.

Read More: Punjab’s Central Land Records Management to Receive USD 150 Million from World Bank

Shehbaz Sharif, meanwhile, declared in a statement that he would oppose the budget’s approval because it is “against the public interest.” He also stated that he had ordered the party’s economic committee to host a pre-budget seminar so that the public could comprehend the reality of the economy.

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