All subsidies on electricity and petroleum products abolished

All subsidies on electricity and petroleum products abolished

In the budget presented by the federal government, despite the removal of all subsidies on electricity and petroleum products, a large subsidy has been allocated for Electric.

According to the details, a huge subsidy of Rs 80 billion has once again been allocated for K Electric in the annual budget.

On the other hand, the subsidy in the power sector has been significantly reduced by Rs 502 billion and it has been reduced from Rs 1,072 billion to Rs 570 billion.

Subsidies for IPPs have been reduced from Rs 434 billion to Rs 180 billion.

In addition, last year’s subsidy of Rs 44 billion for agricultural tube wells in Balochistan and Rs 76 billion in electricity for the former FATA has been completely abolished.

The subsidy for petroleum sector has also been reduced from Rs 377 billion to Rs 71 billion while the subsidy on petroleum products has been reduced from Rs 286 billion to Rs 25 billion.

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