Islamabad: Finance Minister Muhammad Aurangzeb has stated that austerity measures are being effectively enforced to ensure the availability of funds aimed at providing public relief amid the current situation arising from tensions in the Middle East. Speaking in the National Assembly, he highlighted that the prices of petroleum products had not increased for three weeks, facilitated by a blanket subsidy of one hundred and twenty-nine billion rupees.
According to Radio Pakistan, the Finance Minister emphasized that the government is now providing targeted subsidies to deserving segments of society, including motorcyclists, trucks, and public transport users. Small farmers are also being supported. Additionally, the government has reduced the Public Sector Development Program (PSDP) by one hundred billion rupees to allocate more funds for public relief.
During a discussion on petroleum prices, Aurangzeb welcomed constructive suggestions from both treasury and opposition members. He agreed on the significance of building strategic reserves of fuel. In response to a Calling Attention Notice by Syed Naveed Qamar and others, Defence Minister Khawaja Asif highlighted the importance of transitioning to cheaper energy sources, such as solar power, to reduce energy costs. However, he noted that Pakistan remains bound by power purchase agreements with Independent Power Producers (IPPs).
Minister of State for Climate Change Shezra Mansab Ali Khan Kharal remarked that the government is promoting clean energy, including solar power. She clarified that changes to the net metering policy apply to new prosumers, while existing agreements will be honored until their original terms expire. She also mentioned that Pakistan has ceased importing coal for power generation, instead utilizing local coal.
Minister of State for Finance Bilal Azhar Kayani, responding to a Calling Attention Notice, reported growth in tax revenue collection during the first eight months of the current fiscal year. He stated that the government is working to expand the tax net and mitigate the impact of the US-Iran conflict on the populace. Furthermore, he noted that the petroleum levy has been reduced, with the levy on diesel brought down to zero, ensuring the continuous supply of petroleum products in the country.
The House has been adjourned and will reconvene on Wednesday at 5 PM.