PM changes gas formula for five export-oriented sectors
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In a major development, Prime Minister Shehbaz Sharif has changed the formula for supplying cheap gas to the industry, the 24NewsHD TV channel reported on Sunday.
Prime Minister Shehbaz Sharif during a meeting with Faisalabad industrialists also assured them to release sales tax refunds as soon as possible.
Giving detail of the meeting, former Pakistan Hosiery Manufacturers and Exporters Association (PHMA) chairman Kashif Zia said the formula for supplying gas to the industry has been changed.
According to the new formula, a blend of 50:50 of system gas and RLNG will be provided to five export-oriented sectors for nine months (March to November). “100 percent RLNG will be provided to five sectors for the remaining three months of the year without any subsidy,” he said, adding earlier, 100% RLNG was being used in the industry.
He said that the Ministry of Petroleum also issued a notification in this regard.
Kashif Zia said this move will make the gas rate cheaper for the industry. He appreciated the initiative taken by the PM and expressed hope that the export industry will develop after getting cheap gas.
