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Govt ends subsidy of Rs80bn on gas for export-oriented sectors

Business May, 2 2023
Govt ends subsidy of Rs80bn on gas for export-oriented sectors
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ISLAMABAD: Government has ended subsidy amounting to Rs 80 billion on gas for five export-oriented sectors. According to media reports RLNG supply at rate of 9 dollar has been scrapped to textile (jute), sports, leather, surgical and carpet sectors. OGRA approved rates will be applicable to all export sectors from May 1.

According to notification exports sectors will have to pay 4 dollar additional per MMBTU on RLN. Government has taken stance relief will be ended for industries and will be provided to people.

On other hand Pakistan Hosiery and Manufacturers association and other industries while rejecting enhancement in gas rate has said industry will plunge into crisis due to spike in gas prices.

Published in The Daily National Courier, May, 02 2023

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