Federal government on Sunday withdrew an Rs80 billion subsidy on natural gas for five export-oriented sectors for the ongoing fiscal year 2022-23. The public authority had been paying the sponsorship to the material, sports, careful, calfskin, and jute areas as concessionary taxes. It wouldn’t be accessible from May 1. These areas would need to pay an extra $4 per MMBtu as the stock of RLNG to these areas would end at $9 per MMBtu.
The SNGPL, in a letter to a customer, had educated about the withdrawal regarding the sponsorship and communicated its limitation to pull out concessionary duty to the five areas. “If it’s not too much trouble, note that Gas/RLNG supply to your modern units will stay accessible at Ogra informed levy w.e.f 01-05-2023,” read the SNGPL letter. Pakistan Hosiery Producers Affiliation (PHMA) dismissed the move saying it would drive the business into emergency.