Govt to allocate subsidy worth Rs578bn in FY23

MG News | June 09, 2022 at 10:48 AM GMT+05:00

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June 09, 2022 (MLN): The government is likely to earmark Rs578 billion in the fiscal year 2022-23 while the energy sector will get lion’s share as Rs500bn to be allocated to this sector.

Meanwhile, Independent Power Purchasers (IPPs) will receive around Rs190bn in the upcoming fiscal year while Rs20bn will be issued for Regasified Liquefied Natural Gas (RLNG) for the zero-rated industries, sources told Mettis Global.

In addition to it, the industrial sector will be allocated Rs52bn in FY23.

It is pertinent to mention that the overall subsidy earmarked for FY23 is 15% less than the previous year.

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