Concerned Energy Minister Muhammad Ali has stated that a plan has been sentto the IMF for relief in electricity bills. A response from the IMFregarding relief on electricity bills is expected within the next two days.Industries should not be shut down due to gas shortages during winters, andLNG plants will be installed to ensure a steady gas supply to industries.
According to details, a briefing was given by the apex committee of ISF-Cafter the meeting. Energy Minister Muhammad Ali stated that discussionswere held on the transfer of subsidies to provinces in the meeting. The gassector is suffering an annual loss of 300 billion rupees, the search fornew gas reserves has stalled, and circular debt has increased. Severalcompanies have left the country. Efforts are being made to reduce circulardebt. The boards of DISCOs were discussed to be depoliticized.
The gas sector incurs a loss of over 30 billion rupees during winters, andmeasures have been taken to address the issues. Gas supply reduces duringwinters, and LNG plants will be installed to ensure gas supply toindustries. Industries should not be shut down due to gas shortages, andthe Ministry of Energy has initiated actions on all fronts.
A plan has been sent to the IMF for relief in electricity bills, and aresponse from the IMF is expected within the next two days. CaretakerFinance Minister Shamsad Akhtar stated that bank loans will be shifted tothe capital market. Work is being done on downsizing, the State EnterprisesPolicy is being formulated, and Cabinet committees are active.
Shamsad Akhtar will work as a team, and all economic sectors willcollaborate. Caretaker Information Minister Murtaza Solangi stated thatpractical measures are being taken to reduce government expenditures.Efforts are being made to promote investment in the country, and measuresare being taken to curb smuggling.
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Agreements causing losses are being reviewed, and international agreementswill be kept intact. Dollar smuggling, sugar smuggling, and petrol productsmuggling were discussed in the country. The restructuring of the FBR andreducing circular debt were part of the agenda. Caretaker Commerce MinisterGohar Ejaz stated that we are all making sincere efforts for thedevelopment of the national economy.
Today’s focus was on how to run industries and boost trade. The currentcrisis of inflation can be addressed. If the export industry takes off, thedollar can reach 300 or even 250 rupees. This will help reduce inflation.As exports increase, the dollar will appreciate, leading to stability inthe country. There is an abundant stock of sugar in the country; there isno crisis. China’s stock of reserves is available until the next harvestingseason.
