No gas price hike or electricity price increase: Fawad Chaudhry

September 13, 2018 (MLN): Information minister Fawad Chaudhry while talking to the local media in a press conference after the federal cabinet meeting held on Thursday announced that the Prime Minister has not approved any increases in the price of gas in the meeting.

He also informed the media that the increase in electricity tariffs of Rs 4 proposed by the National Electric and Power Regulating Authority (NEPRA) were also not approved.

With respect to the revision of taxes on the salaried classes, the cabinet has made no such decision so far, informed the minister.

On the matter of fertilizer imports, the decision taken in the meeting of the Economic Coordination Committee regarding the import of 100,000 tons of urea remains affirmed. He also said that imports of urea are going to cost nearly $300-350 million to the country.

He also informed that by November 15, the government would be providing full gas supply to all the fertilizer plants in the country, as this basis input is a necessity for the country in light of its demand ahead of the Rabi crop season, which has already prompted the need to import this commodity to meet the estimated deficits in local production.

The minister also announced that the government would be giving a Rs 4.2 billion subsidy to the Orange Bus Line transport project that was initiated by the prior government, adding that the project earns Rs 910 million for the national exchequer while its cost comes up to Rs 30 billion.

He also added that for three transport projects, the government has to pay Rs 8 billion per annum.

In order to reduce the country’s debt, the minister further declared that the Cabinet had come to an agreement that 34,660 acres of land for government offices will be used commercial purposes.

The government also has approved governing Board of Director of the state run media house PTV. The board would consist of eight personals, including Director General ISPR.

Former World Bank official Haroon Sharif has been appointed as the Chairman of the Board of Investment.

In addition, the minister also announced that the Dam fund is to be exempted from all taxes.

Copyright Mettis Link News

Posted on: 2018-09-13T19:12:00+05:00