The Minority Caucus in Parliament has called on the government to provide a detailed account of tax incentives introduced under the 24-Hour Economy programme, demanding transparency over beneficiary companies and the potential revenue losses resulting from the concessions.
The Ranking Member on Parliament’s Finance Committee, Dr Mohammed Amin Adam, made the demand while addressing the media on behalf of the Minority on Tuesday, November 10, 2026.
Under the government’s 24-Hour Economy initiative, companies operating three shifts are expected to benefit from a 50 per cent tax rebate, while businesses running two shifts qualify for a 25 per cent tax rebate.
Other incentives announced under the programme include import duty exemptions on machinery and equipment, reduced electricity tariffs for businesses operating at night, and round-the-clock port clearance services.
However, Dr Amin Adam said the Minority wanted the government to explain how the incentives were being administered and whether the necessary parliamentary approval had been obtained before their implementation.
He questioned the number of companies that had been officially certified to benefit from the tax concessions and demanded information on the total amount of government revenue lost through the incentive package.
The former Finance Minister also raised concerns about the implementation of the proposed Time-of-Use electricity tariff, which is intended to reduce power costs for businesses operating during nighttime hours.
According to him, the government must clarify whether the special electricity pricing arrangement has been introduced and made accessible to companies participating in the 24-Hour Economy programme.
The Minority is also demanding the publication of a comprehensive list of companies benefiting from the incentives to allow Parliament and the public to assess the programme’s implementation.
The demand has brought renewed attention to transparency, public financial accountability and the economic implications of the government’s flagship 24-Hour Economy policy, particularly its tax relief measures and incentives for private-sector investment and job creation.
Source: newsthemegh.com