Islamabad: According to news reports, Shaukat Tarin, the Minister of Finance and Revenue, has stated that power subsidies will be provided based on actual use in the upcoming budget and that the government will take a more focused approach to disbursement.

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This was said by the finance minister while presiding over a meeting at the Finance Division to consider additional tariffs for industry and export-oriented sectors in the 2019 budget. Ministers for Industries and Production Makhdum Khusro Bakhtyar and Energy Muhammad Hammad Azhar, as well as Adviser to the Prime Minister on Commerce Abdul Razak Dawood, were present at the meeting.

Different concessional tariff possibilities were explored, as well as their implications for subsidies, profitability, production, and revenue generation.

The need to create a database that could establish the link between tariffs and the success of export-oriented sectors was widely agreed upon.

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The paucity of inexpensive natural gas in the system, the excess units of electricity accessible at a higher rate, and the already established principle that home customers have the first right of use when it comes to natural gas were all mentioned by Hammad Azhar.

He also declared that the government’s major goal will be to promote the export-oriented sector while offering any adjustment or consistency in the rates so that the industry can reach its full potential after consulting with essential stakeholders.

On May 3, Prime Minister Imran Khan stated the government should produce a development-oriented budget for the fiscal year 2021-22 (FY22), with the primary areas of focus being boosting GDP growth and combating inflation.

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