The government is set to begin lifting import restrictions on “non-essential and luxury items” imposed on May 19 and providing energy at subsidized rates (electricity at nine cents per unit and gas at $9 per unit) during the year. Ban on luxury items current fiscal year to make the country’s exports competitive.

Sources told Dawn that a special virtual meeting of the (ECC) had been scheduled for Sunday to approve the subsidized energy rates, but was then postponed at the last minute so that a day will be merged with another meeting on Monday with important topics. in the table.

The sources said the government expected revenues of around $3 billion from “some friends” during the current week and wanted to give “confidence and good sense to the market” by supporting five export-oriented sectors while simultaneously settling accounts payable from import and gradually easing restrictions on most imports (except mobile phones and cars) imposed on around 85 items for a temporary period.

In consultation with the ministries of energy and finance and the export sectors, the ministry of commerce has sought to supply electricity at a final ban on luxury items, comprehensive rate of nine cents per unit (kilowatt-hour or kWh) to five export-oriented sectors : jute, leather, carpets, surgical and sporting goods, from July 1, 2022 to June 30, 2023.

As such, RLNG would be provided to consumers of Karachi-based Sui Southern Gas Company Limited (SSGCL) at the same preferential rate as for consumers of five export sectors of Sui Northern Gas Pipelines Limited (SNGPL), headquartered in Karachi. in Lahor.

Currently, there is a restriction on new industrial connections due to the shortage of natural gas. The government has already allocated Rs60bn for these subsidized rates (Rs20bn for electricity and Rs40bn for RLNG) in the 2022-23 federal budget to supply power ban on luxury items at concessional rates to these sectors.