Imports grow: only 8%; PM’s aide hints at export incentive package

ISLAMABAD: Adviser to the Prime Minister on Finance and Economic Affairs Miftah Ismail revealed on Wednesday that Pakistan’s exports had increased 15% in February this year.

Talking to a private news channel, Ismail said imports on the other hand remained restricted at 8% because of the duties imposed by the government, adding further improvement would be made in the export sector for which an incentive package would be announced soon.

He emphasised that the challenge of circular debt accumulation would be addressed soon as the Economic Coordination Committee (ECC) of the cabinet had approved a plan presented by the Ministry of Energy (Power Division) to settle the debt.

“The government has to bear a loss of Rs110 billion in the power sector so the recoveries have to be enhanced as power generation has also increased,” he said.

Ismail underlined the need for better enforcement measures to increase bill recoveries rather than putting the burden of extra tariff on those consumers who were already paying their bills regularly.

“We are negotiating with provincial governments to seek a solution to the problem since performance of some of the electricity distribution companies (DISCOs) is quite unsatisfactory,” he remarked.

Published in The Express Tribune, March 9^th, 2018.

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