Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

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Government to give Rs 230 bln subsidies and grants in FY18, subsidies to farmers and common people

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Pakistan government plans to give a subsidy of Rs 230 billion during 2017-18 as part to boost industrial activity and relief to common man including Rs 15 billion to textile, fertilizer and other industrial zones.

According to the sources close to the finance minister, the government to propose Rs 230 billion worth of subsidy and grants for the new fiscal year starting July 1, 2017.
The sources said that Rs 118 billion would be proposed to energy sector which showed that government wanted to keep the industries and residential users relief giving them electricity tariff on moderate rate and they expect that crude oil prices might go up in next fiscal year, making the cost on higher side.
The government also plans to give subsidy of Rs 37 billion to railways sector in order to minimize the losses and give timely payment to the staff of Pakistan Railways. Similarly the government would Rs 4 billion approvals for the staff of Pakistan Steel Mills.

As Ramzan approaching the government like every year would give subsidy of Rs 4 billion for the utility stores, keeping the price of edible products on the lower side to give more benefit to the general public. It is learnt that Rs 2 billion would be given for this ramzan and another Rs 2 billion for next fiscal year. Beside this Rs 500 million additional would be approved the give incentive on buying of pulses.

The industrial sector which likely to give subsidy would be Rs 5 billion under textile policy, Rs 5 billion for the fertilizer sector. The government to give fertilizer bags on cheaper rates compared to market ones. While other sectors to get Rs 5 billion incentive under the trade policy

Posted on: 2017-05-13T12:36:00+05:00