Tentative date for relief in electricity bills revealed
Concerned Energy Minister Muhammad Ali has stated that a plan has been sent to the IMF for relief in electricity bills. A response from the IMF regarding relief on electricity bills is expected within the next two days. Industries should not be shut down due to gas shortages during winters, and LNG 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-C after the meeting. Energy Minister Muhammad Ali stated that discussions were held on the transfer of subsidies to provinces in the meeting. The gas sector is suffering an annual loss of 300 billion rupees, the search for new gas reserves has stalled, and circular debt has increased. Several companies have left the country. Efforts are being made to reduce circular debt. The boards of DISCOs were discussed to be depoliticized.
The gas sector incurs a loss of over 30 billion rupees during winters, and measures have been taken to address the issues. Gas supply reduces during winters, and LNG plants will be installed to ensure gas supply to industries. Industries should not be shut down due to gas shortages, and the Ministry of Energy has initiated actions on all fronts.
A plan has been sent to the IMF for relief in electricity bills, and a response from the IMF is expected within the next two days. Caretaker Finance Minister Shamsad Akhtar stated that bank loans will be shifted to the capital market. Work is being done on downsizing, the State Enterprises Policy is being formulated, and Cabinet committees are active.
Shamsad Akhtar will work as a team, and all economic sectors will collaborate. Caretaker Information Minister Murtaza Solangi stated that practical measures are being taken to reduce government expenditures. Efforts are being made to promote investment in the country, and measures are being taken to curb smuggling.
Agreements causing losses are being reviewed, and international agreements will be kept intact. Dollar smuggling, sugar smuggling, and petrol product smuggling were discussed in the country. The restructuring of the FBR and reducing circular debt were part of the agenda. Caretaker Commerce Minister Gohar Ejaz stated that we are all making sincere efforts for the development of the national economy.
Today's focus was on how to run industries and boost trade. The current crisis of inflation can be addressed. If the export industry takes off, the dollar can reach 300 or even 250 rupees. This will help reduce inflation. As exports increase, the dollar will appreciate, leading to stability in the country. There is an abundant stock of sugar in the country; there is no crisis. China's stock of reserves is available until the next harvesting season.