HomeBusinessGovernment works to reduce role of discos in tax collection: Leghari

Government works to reduce role of discos in tax collection: Leghari

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ISLAMABAD – Federal Energy Minister Awais Legari has said the government is working to reduce the role of discos in tax collection. The minister said the government has suspended the Central Power Purchasing Agency (CPPA) from entering into direct power purchase agreements. and will be replaced by a highly competitive electricity supply system.

Federal Energy Minister Awais Leghari expressed these views during the 7th Leaders in Islamabad Business Summit (LIIBS). The 7th edition of LIIBS was jointly organized by Nutshell Group and Unity Foods Limited while chairing the session. Energy Minister Awais Leghari said that the energy sector in Pakistan is facing many challenges. It is impossible to prevent growth. This is because some items need to be subsidized to cater to all socio-economic classes.

The government must demonstrate the courage to embrace social responsibility while promoting industrial growth. This requires finding a balance between supporting industrial development and ensuring that essential items remain affordable for all sections of society. The government is working on regional incentive packages to increase electricity use, he said.

The minister said the reorganization of the National Transmission & Despatch Company (NTDC) is in the final stages. By changing the role to be the operator of the electrical system Due to inefficiency and mismanagement, many projects were delayed for years. This has resulted in great loss to the nation,” the minister said.

Leghari said the government is working on pre-privatization initiatives for policy and regulatory framework. and reduce the role of discos in tax collection. Since collecting taxes is the job of the FBR, the government has no desire to run the affairs of the discos. and will hand it over to a competent executive committee. effective and be independent instead Leghari, he added, said the government has begun the process of converting imported coal-fired power plants to local coal to prevent foreign exchange losses. In the same way He informed that weighted average gas costs are being discussed with all stakeholders.

Federal Planning Minister Ahsan Iqbal said Pakistan is likely to achieve its economic target of $3 trillion by 2047, driven by the target growth rate of 9%. Minister Ahsan Iqbal stressed the timing. Currently appropriate for international investment in Pakistan. It highlighted important commitments from China and Saudi Arabia. Pakistan aims to establish itself as an attractive destination for global industries. By taking advantage of improving production efficiency. and promote their position in international markets.

Minister Ahsan Iqbal called attention to the urgent need to improve the investment landscape, citing SIFC as a promising platform for promoting Pakistan’s attractiveness as a business-friendly destination. He stressed the importance of creating a strong global business identity for Pakistan. Drawing parallels with the successful initiatives witnessed in the first phase of the China-Pakistan Economic Corridor (CPEC), Minister Ahsan Iqbal reaffirmed Pakistan’s potential to achieve economic milestones. It is projected to be a $2 trillion economy by 2047 with a 7% growth rate and ultimately a $3 trillion economy with a 9% growth rate.

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