Cabinet restores tax rebate on income of teachers

ISLAMABAD: The federal cabinet Wednesday approved a reduction in electricity prices, leveraging the available fiscal space, while maintaining the current prices of petroleum products.

The cabinet also approved the signing of contracts by the Central Power Purchasing Agency (CPPA) with bagasse-fired power plants as per revised terms. Approval was also granted to the Whistleblower Protection and Vigilance Commission Act, 2025 and amendments to Income Tax, Sales Tax on Services and Federal Excise Duties in Islamabad Capital Territory. The cabinet also approved Income Tax (Second Amendment) Bill, 2025 to restore tax rebate on income of full-time teachers and researchers.

The federal cabinet also decided to widen the scope of consultation on the approved Solar Net Metering Regulations by Economic Coordination Committee and ordered for re-submitting the recommendations after seeking further feedback from all stakeholders. Prime Minister Shehbaz Sharif chaired the meeting. Talking about the Ramazan package, he said 60 per cent of the allocated Rs20 billion had been disbursed through a transparent digital wallet system. He expressed appreciation for the posthumous conferment of the highest civilian award, Nishan-e-Pakistan, on former prime minister Zulfikar Ali Bhutto, in recognition of his contributions and services to the nation. Besides, the federal cabinet offered Fateha for the departed soul of the mother of Army Chief General Syed Asim Munir.