Ishaq Dar, Federal Minister for Finance and Revenue, stated on Thursday that Pakistan’s export businesses will receive discounted power at a rate of Rs19.99 per unit.
Addressing the media after talks with the Pakistan Textile Exporters Association (PTEA) in Islamabad, the finance minister stated that all distribution companies will provide electricity to the country’s export industry for Rs19.99 per unit, with the government bearing the difference between the new fixed price and the actual per unit production cost.
Dar continued, saying that the "all-inclusive” deal was announced for all five key exporting industries, not only textiles. He urged the business community to increase Pakistan’s exports for the sake of the country.
“I expect the industries to now increase Pakistan’s exports,” he said, adding that Pakistan’s external account problems can only be resolved through improving export sector.
He went on to say that the coalition administration, led by Prime Minister Shehbaz Sharif, was going all out to help the business community and farmers get the country’s economy back on track.
Ishaq Dar has promised to restore the rupee to its former value of less than 200 versus the US dollar. "I can truly demonstrate that its (dollar) true worth is less than Rs200,” he claimed.
It is worth noting that the rupee, which had dropped close to an all-time low of Rs239.71 on September 22, has been rebounding since Dar took over as finance minister from Miftah Ismail. In the previous nine sessions, it has earned Rs17.77, or 7.41 percent.
