In the budget of the new fiscal year, it is proposed to keep more than twelve hundred and fifty billion in the form of subsidy, news TV reported quoting sources.
As per reports, the government has unveiled its plans for the upcoming fiscal year, with a significant focus on subsidies to support various sectors of the economy.
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A total of 1250 billion rupees have been proposed to be allocated as subsidies, aimed at providing relief and assistance to different segments of society.
One of the key areas receiving substantial support is food security. The budget proposes a subsidy of 55.5 billion rupees to ensure affordable and accessible food supplies for the population.
This allocation aims to address concerns about rising food prices and guaranteeing essential nutrition for all citizens.
To further facilitate the provision of essential goods at affordable rates, a subsidy of Rs30 billion will be given to utility stores. This measure intends to make necessary items more accessible to the general public, particularly those with limited financial means.
To provide relief during the holy month of Ramadan, a subsidy proposal of 5 billion rupees has been put forward. This allocation will assist in facilitating the procurement and distribution of essential items at subsidized rates, benefiting the general public.
Additionally, a subsidy of 10.5 billion rupees is proposed for the supply of wheat to Gilgit-Baltistan (GB), ensuring the availability of this staple food item in the region.
Another grant of 10 billion rupees will be provided to the Pakistan Agricultural Storage and Services Corporation (PASCO) for the supply of wheat, further bolstering food security efforts.
Under the ambitious program “Mera Ghar Mera Pakistan” (My Home, My Pakistan), the budget proposes a subsidy of twelve billion and twenty million rupees.
This subsidy aims to facilitate affordable housing initiatives and empower individuals to own their own homes, contributing to the government’s vision of socio-economic development.
In a bid to support farmers affected by natural disasters, the upcoming budget proposes a support of Rs7 billion to waive the loans of flood-affected farmers.
The petroleum sector is also set to receive significant support, with a proposed subsidy of 53.6 billion rupees. This allocation aims to stabilize fuel prices and ensure the availability of petroleum products at reasonable rates, benefiting both consumers and businesses.
Furthermore, the budget includes a proposal for a 30 billion rupees subsidy for the supply of Re-Gasified Liquefied Natural Gas (RLNG) to domestic consumers. This measure seeks to ensure the availability of affordable energy resources for households across the country.
In a move to strengthen regional ties and enhance energy cooperation, a subsidy of Rs5 billion is proposed for the Pak-Arab pipeline project.
The budget also addresses the price differential claim of the Pakistan State Oil (PSO), with a proposed subsidy of 11 billion rupees.
Additionally, to address the outstanding claims of the Pakistan State Oil (PSO), a subsidy of 11 billion rupees will be allocated for their price differential claim.
Lastly, the proposed budget includes a subsidy proposal of 2 billion rupees for the metro bus service of Islamabad. This allocation aims to improve public transportation facilities and enhance connectivity within the capital city.
