‘Targeted’ subsidy on petroleum products planned

Minister informs NA committee tasked to expedite tax cases pending in courts

ISLAMABAD:

Minister of State for Finance Aisha Ghaus Pasha on Monday informed the National Assembly that the government was planning to provide targeted subsidy on petroleum products.

To various supplementary questions during Question Hour, she said that inflation jumped to 27.6 per cent in January from 24.5 per cent recorded in December.

The average inflation during July 2022 to January 2023 reached 25.4 per cent due to various reasons, including the Russia-Ukraine war, higher international commodities prices, and currency depreciation.

She added that wheat and other food items had to be imported at a higher cost due to the lingering impact of floods.

The minister said the government enhanced the stipends under the Benazir Income Support Programme (BISP) to support deserving families.

The Ramazan Package was also given to provide essential commodities to the people at reduced rates, she said.

Also read: Petro problems pile up

The minister said the government was making all-out efforts to bring down inflation having both domestic and international factors. However, she said they needed provincial governments' cooperation to check the price hike.

To another question, she said the government was also giving priority to tax revenue mobilisation in view of the current economic challenges and to reduce deficits.

A committee had also been set up to expedite tax cases pending in different courts, she said.

To another question, the minister said there were 140 non-custom paid confiscated auctionable vehicles which could not be auctioned and were lying for over a year in various customs directorates.

There was no maximum period for auctioning of the confiscated vehicles, she said.