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IANSLive
New Delhi, June 5 (IANS) India s gross Good and Services Tax (GST) revenue collections remained above the psychological mark of Rs 1 lakh crore, clocking a high of Rs 1,02,709 crore in May 2021, beating all the expectations of lower collections in the wake of the disruptions caused by the second wave of the Covid-19 pandemic.
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for passing on impact of higher LNG prices to consumers
Business
June 4, 2021
KARACHI: The government has to start passing on the impact of higher liquified natural gas (LNG) prices to the consumers via an appropriate price pooling mechanism otherwise it risks the formation of a circular debt situation akin to the one prevailing in the electricity sector, the central bank said on Thursday.
“With LNG imports set to rise substantially over the coming years, it is crucial to devise ways to address the mindset of cheap availability of natural gas in the country,” the State Bank of Pakistan (SBP) said in report. “Due to the prevalence of extensive cross subsidies, various segments of the economy, in particular fertilisers and household sectors, have taken the availability of subsidised natural gas for granted.”
Accordingly, the Monetary Policy Committee (MPC) of the central bank voted to maintain the repo rate, or short-term lending rate, for commercial banks, at 4 per cent.Like