Daily Times

Minister for Finance and Revenue Shaukat Tarin has said that power subsidies for the next budget will be allocated on the basis of actual consumption/accrual and a more targeted approach for disbursement will be adopted. The finance minister said this while chairing a meeting at the Finance Division to discuss new tariffs for the industry as well as export-oriented sectors in the upcoming budget. Minister for Industries & Production Makhdum Khusro Bakhtyar and Minister for Energy Muhammad Hammad Azhar were also present in the meeting along with Adviser to PM on Commerce Abdul Razak Dawood. Different options for concessional tariff were discussed in the meeting along with their implications on the subsidies, earnings, production and revenue generation. It was a general consensus that there is a need to generate a database which could establish the nexus between tariffs and progress of the export-oriented sectors/industry.