Petrol, gas and electricity subsidy to end: Shaukat Tarin

admin — Mon, 01 Jun 2009 05:21:56 +0000

KARACHI: Finance Advisor, Shaukat Tarin has said that a decision for putting an end to the subsidy on petrol, gas and electricity has been taken. Addressing a seminar on “IMF role in Pakistan economy” under the aegis of Institute of Business Administration (IBA), the finance advisor said that the government was facing economic challenges. He said that the current fiscal year revenue recoveries would amount to Rs1180 billion, but yet the recoveries have been crucial problem for the government and this was the reason that the prices of petroleum products were not reduced. Shaukat Tarin said that serious notice has been taken of the FBR harassing consumers. He said that the focus for the next year would be to revive the economy after stabilization. He pointed out that attention would also be paid towards the revenue generation. He explained that the tax would not be increased and instead efforts would be made to expand the tax net. This would be carried out administratively and also on the policy basis Finance advisor said that Pakistan’s three national enterprise’ Pakistan Steel, Railway and PIA were cumulatively incurring losses of over Rs200 billion annually. He said that relief would be given to the middle class in the upcoming budget, while the new National Financial Award (NFC) would be presented with the consensus of the four provinces.

Pak, Federal Budget on June 13

admin — Tue, 19 May 2009 15:12:14 +0000

ISLAMABAD: Federal Budget-2009-10 will be presented on June 13. Following the issuance of report of poor-men’s access to finance in Pakistan. Shaukat Tarin said that the government would not allow export of wheat because the wheat export in the past had led us to problems. He said that the government was permitting the export of wheat products maida; and “sooji”. He further said that 0.2 million tons of sugar import was under consideration for keeping the sugar price stabilized. Earlier, addressing the gathering, Shaukat Tarin said that presently 40 micro-finance organizations including 7 banks with their 1550 branches and service centers were working within the country. He said that the private sector credit constitute of 29 percent of the total GDP. Financing access was available to 14 percent population, while 40 percent of the population does not have the facility of re-financing available. The government has set the target of making micro-financing facility available to 3 million people by 2010. He said that unofficial remittances in Pakistan currently estimated at about $16 million.

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Petrol, gas and electricity subsidy to end: Shaukat Tarin

Pak, Federal Budget on June 13