Updated on
Summary
Federal Minister for Finance Shaukat Tarin said on Monday that electricity tariff would be raised by 12 percent on January 1 while another 6 percent on April 1 next year. Whereas, custom or special excise duty could be increased by 1.5 percent to compensate for additional expenses on war against terrorism.Addressing a press conference in Islamabad, Tarin said Pak Army would be provided with any additional budget required. He told that a draft of Corporate Rehabilitation Act had been outlined for rehabilitation of sick industrial units. Under the draft of the act, the cases of industrial units who could not repay their debts within 180 days would be forwarded to special court. Shaukat Tarin informed that NWFP government would be provided with the net profit of Rs 10 billion from electricity before December 31 this year whereas the remaining Rs 100 billion would be provided in four equal tranches.
