Govt, APTMA and other Zero Rated Industries reach an agreement

By MG News | February 27, 2020 at 04:26 PM GMT+05:00

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February 27, 2020: A delegation of APTMA and zero-rated Industries held negotiations with Government team which included Federal Minister for Power and Petroleum Mr Omar Ayub Khan, Federal Minister for Economic Affairs, Mr Hamad Azhar, PM advisor on Petroleum Mr Nadeem Babar, Advisor on Industries and Commerce, Mr Abdul Razaq Dawood and Governor Punjab, Mr Muhammad Sarwar, yesterday evening.

The meeting discussed all matters relating to the textile and other zero-rated industries.

The meeting resolved all outstanding issues relating to energy tariff. The agreements reached will be budget neutral for Finance Division It was agreed by all parties that Government will provide a maximum of Rs. 20 Billion total subsidies for Power and Petroleum, in the form of cross-subsidy and/or allocation, in the next year budget.

The Government showed its resolve to provide all necessary support to these industries for the better economic growth of the country.

Press Release

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