News
Wednesday, June 02, 2010
Power tariff raise to be applicable from April 1: Hafeez Shaikh
ISLAMABAD: When power tariff is raised in the near future, it will be applicable to electricity bills from April 1, 2010, Adviser to the Prime Minister on Finance Dr Hafeez Shaikh said on Tuesday.
The commitment with international financial institutions is to raise the tariff by six percent, however, its total impact might increase over 7.5 percent for power consumers, Dr Hafeez said while talking to reporters after launching a book titled “State of the Economy: Pulling Back from the Abyss”, prepared by the Institute of Public Policy of the Beaconhouse National University, Lahore.
To a question about a possible delay in the implementation of VAT, the adviser said it would not be delayed and would be applicable from July 1 this year.
He said the upcoming budget had been much scrutinised by the public and would be a transparent one. “What would be committed in the budget would be ensured for the rest of the year,” he said.
Dr Hafeez said the impoverished section of society will be brought into the mainstream and proposed subsidies would be announced for the poor only, adding that the rich would not be allowed to enjoy subsidies in the name of the poor.
He said subsidies for public-sector enterprises will also be reviewed, as the government does not have funds to finance such inefficient enterprises. sajid chaudhry
Courtesy www.dailytimes.com.pk