The federal government has unveiled a relief package for the country’s export industry under which subsidised electricity is to be provided at Rs19.89 per unit. Addressing the media in Islamabad after holding talks with Pakistan Textile Exporters Association (PTEA) on Thursday, Finance Minister Ishaq Dar said all power distribution companies will provide electricity to the exporters on the subsidised rates and the subsidy amount will be covered by the Ministry of Finance. https://ift.tt/27F4Lwn Dar said the PML-N-led government under the leadership of Prime Minister Shehbaz Sharif is making all-out efforts to assist the business community and farmers to put the country's economy on the right track. He also urged the business community to enhance Pakistan's exports, saying the country’s external account problems can only be resolved through improving the export sector. Also read: The impact of Ishaq Dar’s return The finance minister said the subsidy will amount to Rs90 billion to Rs100 billion per annum. Asked whether this would qualify as a violation of the terms of the bailout package provided by the International Monetary Fund (IMF), Dar said that if they ask, he will speak to them but he did not need their permission as the country had fiscal space to back the move. https://ift.tt/PcRoH6E Rupee-dollar parity The financial czar said the government is also making efforts to bring back rupee at its original value “which is less than Rs200 against a dollar”. Dar went on to say that he did not take any “strict action” yet but the rupee has started recovering against the greenback and added that the country is benefiting from the rupee appreciation as the total debt of the country has reduced since he assumed the charge of finance ministry. https://ift.tt/GJ1USeq Speaking about Imran Khan’s expected long march, the federal minister said the PTI chairman has also fulfiled his wish of a 126-day long sit-in in Islamabad in the past but now, the law will take its course if he does so again. To a query about the return of his party’s supremo Nawaz Sharif to Pakistan, he said he will return to the country very soon “with the will of Almighty Allah".
from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/dlouyMs
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