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In the budget, Rs. 682 billion has been allocated in the form of subsidy for various sectors – IG News

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In the budget, Rs. 682 billion has been allocated in the form of subsidy for various sectors

In the federal budget for the next financial year, Rs. 682 billion has been earmarked for subsidy for various sectors including power sector, petroleum, Pasco, Utility Stores Corporation, New Pakistan Housing Authority and fertilizer.

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The subsidy allocated for the next financial year is 226% higher than the current financial year. However, the subsidy on metro bus service has been halved.

According to the budget document, the total subsidy has been increased from Rs 209 billion to Rs 682 billion, the power sector subsidy has been increased by 457%, which has been increased from Rs 139 billion to Rs 50 crore to Rs 596 billion.

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Subsidies to power distribution companies have been increased from Rs 129 billion to Rs 245 billion. The subsidy for K-Electric has been increased from Rs 10 billion to Rs 85 billion.

In order to control the revolving debt, Rs. 266 billion has been allocated in the budget for IPPs and Power Holding Pvt. Ltd.

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The subsidy for the petroleum sector has been increased from Rs 10 billion to Rs 20 billion.

Subsidy for Utility Stores Corporation has been increased from Rs 3 billion to Rs 6 billion.

The subsidy for metro bus service has been reduced from Rs 2 billion to Rs 1 billion.

A subsidy of Rs. 6 billion has been earmarked for the fertilizer sector, Rs. 30 billion for the New Pakistan Housing Authority and Rs.

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