News
Saturday, June 02, 2012
Rs 208.5 billion subsidy for public in budgetISLAMABAD: The federal government on Friday announced Rs 208.595 billion in subsidies for the Fiscal Year 2012-13 against last year’s allocation of Rs 166.448 billion, showing a 25.32 percent increase. A major subsidy of Rs 6 billion was announced for the public through the Utility Stores Corporation (USC), which include Rs 2 billion under the head of Ramzan Package. Moreover, the government has allocated Rs 4 billion for the sale of sugar through the USC. It also announced a nominal Rs 10 million subsidy to the Trading Corporation of Pakistan, as compared to last year’s mammoth allocation of Rs 4 billion. The TCP had spent Rs 16.952 billion over sugar operations in 2011-12. The government also announced a Rs 5.148 billion subsidy to PASSCO for wheat operations and wheat reserved stock against last year’s Rs 4.074 billion. It also announced a Rs 1.148 billion subsidy for wheat operations against last year’s Rs 4.171 billion. The government announced Rs 12.150 billion as subsidy under the head of ‘others’, while last year it was Rs 9.086 billion. The sectors that come in this category are: Fauji Fertiliser Bin Qasim Ltd, Oil Refineries and OMCs/Others, sale of wheat in FATA and Gilgit-Baltistan, and sale of salt in Gilgit-Baltistan. ijaz kakakhel
Courtesy www.dailytimes.com.pk