FinMin hints at further power tariff reduction by July

Finance Minister Muhammad Aurangzeb hinted at a further reduction in power tariffs by the middle of the year, stating that the government is actively working on it. 

This statement came after the recent decline in electricity prices, which were reduced by Rs7.41 for domestic and Rs7.69 for industrial users, following Prime Minister Shehbaz Sharif's announcement earlier this month. 

The Finance Minister and Revenue Senator stated that a further reduction is expected by July or earlier.

He disclosed the government's plan while discussing a comprehensive relief program for the salaried class, which would be shared with the International Monetary Fund (IMF). 

Aurangzeb stated that the government achieved all targets set by the lenders, paving the way for another staff-level agreement in May. 

Read: PM Shehbaz announces Rs 7.41 per unit reduction in electricity prices

He acknowledged some delays but claimed they were "fulfilled."

The Finance Minister highlighted improvements in tax collection from traders, citing the success of recent initiatives. He added that the trade-friendly scheme shouldn't be directly linked to tax collection outcomes. 

He also announced plans to functionalise the Tax Policy Division under the Finance Ministry later this year, which would be responsible for better coordination and policy implementation. 

A new form is being introduced, allowing taxpayers to file their taxes independently without requiring help.