Finance Minister Ishaq Dar on Thursday announced a power subsidy package for Pakistan\u2019s export industries with per unit electricity cost set at Rs19.99.
\nIn a media talk after negotiations with the Pakistan Textile Exporters Association (PTEA) in Islamabad, he termed the demand for energy subsidies \u201cjust\u201d and promised that the government would bear the difference between the new fixed price and the actual per unit production cost.
\n\u201cI expect the industries to now increase Pakistan\u2019s exports.\u201d
\nDar said the annual burden of the subsidy would amount to around Rs90-100 billion, adding that the \u201call-inclusive\u201d package was announced for the five major exporting sectors, and not just the textile sector.
\nHe denied that the subsidy would have any impact on the primary or budget deficit, assuring that \u201ceverything will be taken care of\u201d.
\nMeanwhile, in response to a question on whether the International Monetary Fund (IMF) was taken into confidence on the package, the finance minister said: \u201cI don\u2019t need to take [the IMF] into confidence [\u2026] when I know what I am doing then it is my responsibility to create [fiscal] space for it and I have done so.\u201d
\nDar added that he believed in taking \u201cprudent decisions\u201d and had a source of funds available for the package. \u201c[I will explain it myself] when talks are held with them [IMF delegation] and when they arrive on October 25,\u201d he added.
\n\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
Finance Minister Ishaq Dar on Thursday announced a power subsidy package for Pakistan\u2019s export industries with per unit electricity cost set at Rs19.99. In a…<\/p>\n","protected":false},"author":1,"featured_media":1453,"comment_status":"registered_only","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[16],"tags":[],"class_list":["post-1452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/posts\/1452","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1452"}],"version-history":[{"count":0,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/posts\/1452\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/media\/1453"}],"wp:attachment":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}