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April 9, 2021
ISLAMABAD: Pakistan has made a commitment with the IMF under structural benchmark conditions for increasing the power tariff by over Rs5 per kWh till June 2021 while revising the gas tariff in the second half of the current calendar year.
With the amendments into the power sector regulator National Electric Power Regulatory Authority (Nepra) Act, the quarterly tariff adjustments will be implemented automatically in April, June and September 2021 and afterwards.
Under an ambitious fiscal adjustment plan, Pakistan has agreed with the IMF for making adjustments of around 3 percent of GDP ranging up to Rs1,500 billion through FBR’s taxation measures, hiking electricity tariff and jacking up collection of Petroleum Development Levy (PDL) up to Rs607 billion in the upcoming budget for 2021-22.
Parliament mulls fuel tax cuts in new Budget Bill
businessdailyafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessdailyafrica.com Daily Mail and Mail on Sunday newspapers.
MPs approve diesel subsidy amid public outcry
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THE STANDARD By
Allan Mungai |
March 16th 2021 at 00:00:00 GMT +0300
President Uhuru Kenyatta makes his State of the Nation address at the National Assembly s chamber, Parliament Buildings, Nairobi 26-03-2015. [Photo: PSCU]
Members of Parliament exposed Kenyans to the high fuel taxation, yet they are now questioning the increased cost of fuel.
By not putting the government to task as it passed pieces of legislation that allowed the increase of taxes, legislators opened the door that led to the current situation.
MPs are on the spot for passing legislation that increased VAT on fuel to 16 per cent as well as the introduction of the Petroleum Development Levy last year which increased fuel prices by a further Sh5.