ISLAMABAD: The government is considering a relief for industries in the upcoming budget of FY25 leading to a reduction in the power tariff for the country’s industrial sector.
As per reports, the electricity tariff may be reduced for industrial consumers, who currently pay an additional Rs240 billion in electricity bills.
According to sources, the Ministry of Industry and Production is working on various proposals to reduce power tariffs for export-oriented industries.
The proposals for tariff rationalization have also been shared with the International Monetary Fund (IMF). The government is expected to finalize the package after the Prime Minister’s approval.
The package is expected to provide benefits of around Rs100 billion to the export sector in the upcoming budget.
It is pertinent to mention here that the federal budget for the next fiscal year (FY2024-25) is likely to be presented on June 7, with an estimated total expenditure of Rs16,700 billion.
According to sources, the initial estimate for expenditures on interest and loans is Rs9,700 billion, while the initial estimate for subsidies is Rs1,500 billion. Sources said that the estimate for tax revenue is over Rs11,000 billion, with direct taxes expected to contribute Rs5,300 billion and federal excise duty expected to contribute Rs680 billion.
