ISLAMABAD: Finance Minister Shaukat Tarin has said that the economic situation has gone backwards during the political turmoil but the government is providing relief in the prices of petroleum products.
Finance Minister Shaukat Tareen while addressing a press conference here on Wednesday said that political turmoil has taken place in the last few days and economic situation has gone backwards during the political turmoil.
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The government is giving relief of Rs39 billion on petroleum products and relief is being given in the prices of petroleum products in every 15 days, he added.
He said that now the relief of Rs104 billion is being given on petroleum products every month while petroleum levy has been cut and sales tax has been reduced to zero.
Tarin said that a relief of Rs136 billion has been provided for electricity in the next four months while the war between Russia and Ukraine has further increased the prices of petroleum products.
He said that a package has been given for rehabilitation of industries and five years tax exemption has been given for setting up new industries. Consumers of 700 electricity units will also get a subsidy of Rs5 per unit.
The finance minister said that the gap between imports and exports would be reduced while bank defaulters could not participate in the amnesty scheme. Freelancers have also been given incentives for IT exports, he added.
Earlier on Monday, Prime Minister Imran Khan had claimed that Pakistan is still cheaper country to live in as compared to several other countries in the world.
The prime minister recalled the steps taken by the government to take the country out of the ongoing inflationary tide.
Imran made these remarks while addressing the launching ceremony of Ehsaas Riayat Rashan Programme here in Islamabad.
He said that the prices of diesel and petrol in the country were still cheaper as compared to the UAE despite their oil reserves.
Imran promised the nation that as long as they keep giving taxes, we will continue enhancing the scope of welfare programmes for masses.
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