Federal Minister for Petroleum Musadik Malik announced a Rs 50 billion energy subsidy package for low-income households consuming less than 200 units of electricity.
He stated that 86% of households fall under this category. “The prime minister retained last year’s power tariff for these households,” the minister added.
Malik mentioned that Rs 600 billion had been allocated to the poor under the Benazir Income Support Programme (BISP). He also highlighted development projects worth Rs 1,200 billion introduced in the recent budget.
The agriculture sector recorded a 6.3% growth rate, the highest in 19 years, along with a record increase in tractor sales. Malik also reported a significant decrease in the inflation rate from 38% to 12%.
Criticizing PTI leader Omar Ayub’s comments on capacity payment agreements with IPPs, Malik said Ayub was a signatory to the agreement in 2013 as a cabinet member.
Malik emphasized Prime Minister Shehbaz Sharif’s three priorities: providing jobs to the youth, creating a business-friendly environment, and addressing inflation and poverty. He added that food item prices had dropped from 40 percent to two percent.
He acknowledged that inflation persists but noted its reduction. Referring to recent Fitch Ratings, he said the world is beginning to recognize Pakistan’s economic stability.
