LPG Prices reduced in Pakistan

LPG Prices reduced in Pakistan

ISLAMABAD - Finance Minister Asad Umar said only 10 percent raise has been made in the prices of gas for the poor segments of society. He said the increase is still less than 46% which was suggested by Oil and Gas Regulatory Authority. He said OGRA had indicated that increase in gas prices is critical as the sector was facing a loss of 154 billion rupees.

He said the government has even reduced the thirty percent tax on LPG and brought it down to 10%. He said the increase in fertilizer prices is due to enhanced rates on exporters of Punjab in the previous government. He said PTI government has even reduced the price of gas by 44 billion rupees for the exporters.

On the issue of circular debt, the Finance Minister said the circular debt has reached 1180 billion rupees which was piled up in the previous government’s tenure.

Asad Umar said taxes to the tune of 70 billion rupees in finance bill hit the luxury goods including vehicles of 1800 cc and above, expensive cell phones and imported food stuff, which are not used by ordinary people. He said tax evaders will be brought into tax net and government will actively pursue them.

Finance Minister Asad Umer laid before the House the Finance Supplementary (Amendment) Bill, 2018 for consideration.

Pakistan Electronic Media Regulatory Authority (Amendment) Ordinance, 2018 and Elections (amendment) Ordinance, 2018 were also laid before the National Assembly.