PM announces to slash oil prices by Rs10 per liter, electricity Rs5 per unit
Prime Minister Imran Khan on Monday announced to reduce the price of petroleum products by Rs 10 per liter and Rs 5 per unit in electricity prices.
In his address to the nation, the premier announced the good news.
“In the Nawaz and Zardari era more than 400+ drones attacks were carried out, never they condemned this policy!” #PMIKaddressToNation pic.twitter.com/TURe4a9i7L
— Virk Shahzaib (@VirkSh786) February 28, 2022
Announcements for IT Sector
Prime Minister also announced 100% tax exemption for both IT companies and freelancers and
100% foreign exchange exemption.
He further announced a 100% exemption from Capital gain tax for investments in IT start-ups.
Kamyab Pakistan Program
Prime Minister announced Rs. 407 Billion subsidized loans to be provided in the next 2 years.
They will be loans for Youth, Farmers, and for Low-Cost Housing.
Industries
Premier announced a revival of sick units through tax benefits. To attract overseas investment through Joint ventures, the Prime minister announced a tax holiday for 5 years.
Qaumi Sehat Card
Prime Minister Imran Khan announced Rs. 1 million free medical covers to all citizens by end of March 2022 (except Sindh) under Qaumi Sehat Card. It will help Private Medical Hospitals to increase services in Rural areas.
He stated that the government is also lowering electricity prices by Rs5 per unit, which will ultimately reduce the masses’ electricity bills “by 20 to 60%.”
He announced not to increase the prices of petrol, diesel, and electricity until the next budget.
Premier said that students who had graduated but are unemployed will be given internships so that they can earn money. We will provide scholarships to students who wish to further their education, he added.
He said that he had always wanted Pakistan to pursue an independent foreign policy that is in the best interests of the country.
Pak-US Relations
Prime Minister Imran Khan claimed that when Pakistan joined the US war on terror during the reign of former military dictator Pervez Musharraf, the country paid a high price in terms of economic and human losses.
“I was always of the opinion that [Pakistan] had nothing to do with the US war in Afghanistan, Khan added.
Both the democratic governments remained tight-lipped when the US was carrying out drone strikes in Pakistan.
PM Imran stated that his recent trip to Russia was intended to strengthen economic ties with the country, which plans to import two million tonnes of wheat from Moscow as well as sign a gas agreement.
He also briefly mentioned his trip to China, where he attended the Beijing Olympics and stated that the results of his trip would be visible with the start of the CPEC second phase.
According to a Foreign Office statement, Prime Minister Imran Khan told Russian President Vladimir Putin on February 24 that disputes should be resolved through dialogue and diplomacy, and that he regretted the latest situation between Russia and Ukraine.
Oil prices rose as a result of the conflict, with Brent crude exceeding $105 per barrel for the first time since 2014 after Russia’s attack on Ukraine exacerbated concerns about disruptions to the global energy supply.
For the first time since the beginning of the Russian invasion, Foreign Minister Shah Mahmood Qureshi spoke by phone with his Ukrainian counterpart to discuss the situation, calling for a de-escalation of tensions between Russia and Ukraine.
