Pakistan’s power crisis is growing. The reason for this is the failure to reach an agreement on natural gas imports. Pakistan LNG Ltd could not sign a deal for natural gas three times in a row due to rising gas prices. A report by Pakistan’s Geo News said the country’s inability to purchase fuel could exacerbate power shortages.
Meanwhile, the government of Pakistan is making various efforts to save electricity. In addition to shortening working hours for government employees, shopping malls and factories in Karachi and other cities have been ordered to close soon. Last Thursday, Pakistan’s Prime Minister Shahbaz Sharif promised to take additional steps to address the power shortage.
Europe has increased imports of liquefied natural gas, or LNG, amid fears that Russia will cut gas supplies. This has increased the price of LNG.
Troubled by the financial crisis, Pakistan is worried about the situation in Sri Lanka. The government of Shahbaz Sharif’s Pakistan is trying its best not to create a situation like Sri Lanka. The government of Pakistan is taking various steps to cope with the dire financial situation while maintaining the trend of development. The country’s reserves fell to বিল 10 billion this month. With the amount of money stored in Pakistan’s reserves, it is possible to cover a total of two months’ worth of imports. In this situation, the government has increased the price of petrol and diesel in the country.
According to Dawn, the Shahbaz government has imposed a ‘super tax’ on large industries and those with higher incomes to reduce the budget deficit. A 10 per cent super tax has been imposed on large industries. And those whose annual income is more than Rs 15 crore, they have to pay additional tax up to 1-4 percent. In his address to the nation on Friday, Prime Minister Shahbaz Sharif announced the imposition of 10 per cent super tax on large industries. He said the decision was taken to increase revenue to help the country’s poor in the face of rising inflation.
Considering large industries, cement, steel, sugar, oil-gas, fertilizer, liquefied natural gas (LNG) terminals, clothing, banks, cars, cigarettes, soft drinks, chemicals and aircraft are subject to 10 per cent super tax.
The tax imposed on the rich is called ‘poverty alleviation tax’. If the annual income is more than Rs. On Twitter, Finance Minister Miftah Ismail said 4 per cent super tax would be applicable in all sectors.
Shahbaz Sharif said it was easy to leave the people in crisis and play the role of a silent spectator like others. But despite the challenges, the government has taken the second option.
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