Targeted subsidies for the export sector to be announced in the next budget
- The government is considering targeted subsidies for the export sector.
- Finances and Income Shaukat Tarin reiterates its firm commitment to accelerated growth.
- In the next budget, subsidies will be given on the basis of actual consumption.
ISLAMABAD: Targeted subsidies will be announced in the next budget for the export-oriented sector on the basis of performance, the government decided.
The decision was taken at a meeting chaired by Minister of Finance and Revenue Shaukat Tarin to discuss the new tariff for industrial / exporting sectors in the upcoming budget.
Tarin reiterated its firm commitment to accelerated growth, with the voluntary contribution of the business community.
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In the next budget, grants will be made on the basis of actual consumption and a more targeted disbursement approach will be adopted.
The growth of the export oriented sector will be the main objective of the government while providing any change / consistency in the rates, it was decided. In this way, the industry will use its full potential.
The Minister of Industry and Production Khusro Bakhtyar and Minister of Energy Hammad Azhar were also present at the meeting with the advisor to the Prime Minister of Commerce Razak Dawood.
Different concessional tariff options were discussed at the meeting, along with their implications for subsidies, income, production and income generation.
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The meeting noted that there is a need to create a database that could link tariffs to the progress of export oriented sectors / industry.