Saturday, June 26, 2010

Rs.8b subsidy allocated for electricity: Hafeez

ISLAMABAD: Federal Minister for Finance Senator Abdul Hafeez Sheikh said Saturday the government has allocated additional subsidy of Rs. 8 billion in federal budget for fiscal year 2010-11 by not hiking power tariff, Geo news reported.

This he said talking to Geo news after attending post-budget seminar. A total of 216 development projects will see completion in current financial year, he revealed.

The completion of development projects keeps the key status now for the welfare of common men, he noted.

Federal Minister for Information Qamar Zaman Kaira told Geo news several issues concerning with NFC awards still stand unresolved, which will much likely be settled once the time of their implementation comes.

Federal Minister for Privatization Senator Waqar Ahmed said instead of privatization of government’s corporations, bringing improvement in their performances is more important.

Federal Minister for Petroleum Naveed Qamar said we regard Pakistan as sovereign state in energy projects therefore, he ruled out possibility of imposition of any foreign law seeking avoidance of IPI gas pipeline project.

“We are now able to produce gas up to 400 million cubic feet/day from Kark”, he claimed.

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