PM lauded for reducing the price of fuel and electricity

ISLAMABAD, : The Pakistan Economy Watch (PEW) on Wednesday lauded the decisions of Prime Minister Imran Khan to reduce the price of petrol, diesel and electricity which will protect masses from the impact of global inflationary trends.

It also lauded measures aimed at promoting industrialization and construction and encouraging expatriates to invest in Pakistan.

PEW Chairman Brigadier (retd) Muhammad Aslam Khan said in a statement issued here today that despite the increase in oil prices in the international market, the Prime Minister has reduced the price of petrol and diesel by Rs10 per litre and electricity by Rs5 per unit, which will provide relief to the masses.

He supported other relief initiatives which will alleviate some suffering of the people which include Sehat Sahulat programme, increasing the limit of Ehsas Cash Programme and interest-free loans under Kamyab Pakistan Programme.

Aslam Khan said that financial assistance for deserving families has been increased, capital gains tax on startups has been abolished, which is a good decision.

He said that measures taken for the promotion of industrialization and loans worth Rs1400 billion for construction of houses will generate economic activity.

The recent visit of the Prime Minister to Russia would also be beneficial for the country. It will help buy millions of tons of wheat, which will solve the problem of food security in the country and increase the pace of the gas pipeline from Karachi to Punjab, he said.

The results of the agreements reached with China under the second phase of the CPEC will soon begin to emerge on the horizon, while Rs 6,000 billion have been collected in taxes which is encouraging.