ISLAMABAD – Federal government is reportedly mulling over withdrawing taxexemptions amounting to Rs750 bln.
Under the potential agreement with International Monetary Fund (IMF),government has also agreed to raise tariffs of electricity and gas. Also,National Electric Power Regulatory Authority (NEPRA) and Oil and GasRegulatory Authority (OGRA) will be made autonomous bodies.
The government has also agreed to shift additional burden of Rs340 billionon electricity and power consumers.
It has also been learnt that Pakistan would likely ink an agreement withIMF for a bailout package worth USD 7-8 billion.
Pakistani delegation and IMF have also agreed on that former would hikecosts of electricity and gas for the consumers in the next budget.
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The government has also agreed to end electricity subsidy for all consumersapart from the one offered to small consumers.
In the industrial sector, government will offer ‘limited subsidy’ toexporters only.
