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Asad Umar says no decision yet to hike gas, electricity tariffs

Asad Umar says no decision yet to hike gas, electricity tariffs

ISLAMABAD: Finance Minister Asad Umar has refuted the rumours that the government is hiking tariffs on gas and electricity as it will provide all possible cooperation to the textile industry for increasing exports.

Talking to a delegation of All Pakistan Textile Mills Association led by Aamir Fayyaz Sheikh in Islamabad, the minister said that the news relating to increase in gas and electricity tariff has been misreported in the media as no such decision has been taken so far.

The delegation congratulated the finance minister on assuming charge of the Ministry of Finance and said that the Industry hopes that the new government will take decisions in the interest of the industrial sector after incorporating the feedback from the respective sectors.

The finance minister told the delegation that it is his foremost priority to support in any way possible the export oriented sectors of the industry and in this regard all possible cooperation will be provided from the government.

APTMA discussed various issues regarding gas and electricity pricing, proposed withdrawal of customs duty and sales tax on import of raw materials, sales tax refunds, extension of duty drawback scheme for 5 years and maintaining market based exchange rate.

The finance minister assured the delegation of his full support to uplift this export oriented sector on the condition that the sector will fulfill its obligations for increasing exports bringing in much needed foreign exchange and will not in any case be helpful to anyone involved in tax evasion.

Asad Umar assured them that the news relating to increase in gas and electricity tariff has been misreported in the media so far no such decision has been taken by the government.

The minister maintained that the Ministry of Finance will fully support the recommendations of Advisor Textile and Commerce in all Industry related matters.