Prime Minister Shahbaz Sharif has approved several additional taxes and collection of 150 to 200 billion rupees as well as increase in electricity and gas prices. The Prime Minister has suggested a number of responses in view of the mini-budget, which is quite severe.
He took all this decision for the reason that the difficulties and worries in the talks with the IMF can be eliminated.
A meeting was held on Wednesday which was held offline in which many important decisions were taken, and the meeting lasted for about 3 to 4 hours.
Significant sources have learned that they have discussed with the representative of The News that the meeting will be held again on Thursday and more important decisions will be taken in it.
When this representative spoke to the Minister of Petroleum and asked whether the gas prices would be increased further, he did not give any answer.
Sources have revealed that the government will have to increase electricity and gas prices for this year’s worth, along with increasing the existing tariff in the gas sector from 650 per MMBTU to 1100 MMBTU.
As of now, Pakistan is facing several debts which include about Rs 1640 billion and of this the government has to recover about Rs 850 billion by raising the prices of NNGPL and SSGCL along with it. In the first phase, the government of Pakistan will increase the price of electricity by 4.5 rupees per unit and in the second phase it will increase the price to 4 rupees per unit.
Along with this, Finance Minister Ishaq Darbhat is strongly against the 17% GST tax hike and has said that it has led to a lot of procurement.