Excess tax collection helped in petrol, electricity subsidies: PM Imran Khan

ISLAMABAD,: Prime Minister Imran Khan on Wednesday said that the Federal Board of Revenue (FBR) has successfully achieved a tax collection target for February of Rs441 billion, enabling them to give a subsidy on petrol and electricity.

In a message from his Twitter handle, the prime minister said that the FBR has successfully knocked down the February revenue target of Rs. 441 billion, posting robust growth of 28.5 percent, and up to the monthly growth of over 30 percent.

“Because of this performance of FBR we are able to subsidise petrol, diesel and electricity and give relief to our people,” PM Imran Khan said.

Prime Minister Imran Khan announced a massive reduction in petrol and diesel prices up to Rs10 per litre besides bringing down the electricity tariff up to Rs5 per unit.

PM Imran Khan, while addressing the nation today, said that he wants to highlight the national policies and the evolving global situation in his address to the nation today.

He also unveiled a relief package for the nationals including the reduction in petrol prices, power tariff, tax exemptions for the IT sector and others.

“We have decided not to increase the petrol and electricity prices till the next budget. The stipend to the deserving people under Ehsaas [poverty alleviation] programme was increased from Rs12,000 to Rs14,000.”