Targeted Subsidy Programme To Be Operational From Next Month: Asad Umar
Syed Zeeshan Aziz (@imziishan) Published October 18, 2021 | 05:17 PM
Minister for Planning, Development and Special Initiatives, Asad Umar Monday said Prime Minister Imran Khan would announce details of targeted subsidy programme in few days and the people would start getting relief through the programme from next month
ISLAMABAD, (UrduPoint / Pakistan Point News - 18th Oct, 2021 ) :Minister for Planning, Development and Special Initiatives, Asad Umar Monday said Prime Minister Imran Khan would announce details of targeted subsidy programme in few days and the people would start getting relief through the programme from next month.
He said the government was also reducing the Sales Tax on cooking oil from 17% to 8.5%, customs duty from Rs 1000 per tonne to Rs 5000 per ton besides completely withdrawing the 2% additional customs duty that would help easing the cooking oil price in Pakistan by around Rs 50 per kilo.
Addressing a press conference here, the minister said the world was passing through a critical period of extremely high commodity prices and Pakistan was no exception.
The situation might remain same till March 2022, however as per projection of the international experts the prices of the commodities might start receding to normal level from March to June next year, Asad Umar said.
He said the prices of petroleum products and other commodities were still low in Pakistan compared to other regional countries mainly due to smart lock down policy during COVID-19.
He said the COVID pandemic had badly affected the big economies including US, China, UK and other developed countries where the economic growth went down by over 10%.
Rejecting the perception that per-capita income in other countries especially in India and Bangladesh was higher therefore their purchasing power is also good, Asad Umar pointed out that poverty rate in Pakistan was far lower compared to India and Bangladesh which meant that the purchasing power in Pakistan was comparatively better.
Related Topics
Recent Stories
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
Wafaqi Mohtasib inspection team visits Excise and taxation office
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil ..
Pak-US officials engage to enhance trade, investment ties
IBCC to promote educational excellence, expand regional presence
Pakistani 'Blue Helmets' serving UN Peacekeeping Mission in DR Congo set to leav ..
Putin says plans to visit China in May
More Stories From Pakistan
-
Naval Chief participates in 19th Western Pacific Naval Symposium in China
5 hours ago -
Int'l symposium addresses capacity building for safe, environmentally sound ship recycling in Pakist ..
5 hours ago -
Shahzeb Chachar to hold khuli kachehri on April 26
5 hours ago -
Court adjourns Judicial Complex attack case till May 17
5 hours ago -
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
6 hours ago -
Wafaqi Mohtasib inspection team visits Excise and taxation office
6 hours ago
-
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil Rights in South Asia ..
6 hours ago -
IBCC to promote educational excellence, expand regional presence
6 hours ago -
Pakistan embassy organizes scholarship award ceremony in Kathmandu
6 hours ago -
SC to hear case pertaining IHC judges' letter on April 30
6 hours ago -
SC orders removal of barriers outside buildings in Karachi
6 hours ago -
PFA launches crackdown, impose fine for selling expired drinks, food items
6 hours ago