KARACHI: The cross-subsidy method must be abolished to provide relief to industries, this will promote industrial activities and reduce poverty and unemployment in the country.
The IMF will have to support a reduction in power tariffs for industry, otherwise the frustration of the lower class, which has suffered from years of financial woes, will increase.
It may be recalled that the caretaker energy minister had talked about ending the cross-subsidy method, but the IMF had opposed the proposal, calling it dangerous for the poor, while the same IMF, high interest rates, petroleum Supports levies and other means of burdening the public.
Eliminating cross-subsidy will help in curbing gas wastage, people will avoid wasteful use of gas due to expensive gas, while the burden on people can also be reduced through unique income support program.
Second, supply of cheap gas to industries will create employment opportunities, which will lead to reduction in poverty, industries will be able to compete regionally and globally, which will speed up industrial activities, industries will give the government in the form of taxes. will provide finance, which will strengthen dollar reserves.
In this way, it will also help in reducing the revolving debt, the full utilization of the power plants will be possible with the promotion of industrial activities, which will reduce the capacity charges, reduce inflation and improve the socio-economic development.
