LAHORE: Government of Pakistan is likely to reduce industrial tariffs of electricity and gas within the next couple of days, the finance ministry’s chief said on Sunday in a response to businessmen’s demand to lower cost of doing business.

“Gas and power rates would be lowered possibly in the next 10 days,” Adviser to the Prime Minister on Finance, Revenue and Economic Affairs Miftah Ismail said in a meeting with the office bearers of All Pakistan Textile Mills Association.

Ismail, however, rejected the demand of Punjab-based industries to equalise gas rates. “This is not possible as gas used in Punjab is imported,” he said.

The adviser said government is taking measures to lower cost of doing business through ensuring affordable tariffs of electricity and gas.

The official assured the businessmen of compensation for 28 per cent suspension in gas from the system, which has been replaced with re-gasified liquefied natural gas (RLNG), he added.

“The government would compensate the excess amount paid for a 28 per cent additional RLNG use.”

Currently, there are two RLNG terminals with a capacity of 1.2 billion cubic feet/day to meet fuel requirements of Punjab-based gas-based power plants.

Prime minister’ adviser said rebate on sales tax on packaging materials will not be possible in the upcoming budget.

Internews