As a measure to boost exports, the government has decided to provide targeted subsidies in the next budget for the export-oriented sector.
The decision was taken at a meeting chaired by Finance and Revenue Minister Shaukat Tareen to discuss a new measures for the industry / export-oriented sectors in the coming budget.
Tareen reaffirmed government’s strong commitment to accelerate growth through the participation of the business community.
In the next budget, subsidies will be provided based on consumption and targeted approach.
It was concluded that the main objective of the government is the growth of the export-oriented sector, when proposing any changes / adjustments of tariffs. In this way, the industry will reach its full potential.
The meeting was also attended by Khusro Bakhtiyar, Minister of Industry and Production, and Hammad Azhar, Minister of Energy, along with Razzak Dawood, Adviser to the Prime Minister on Trade.
The meeting discussed the different options of lower tariffs and its impact on subsidies, revenue, production and revenue generation.
The meeting highlighted the need for a database that can link tariffs and the progress of export-oriented industries / industries.
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