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Subsidy

Government dismisses request of Rs 6.6 billion subsidy on local sugar sale

ISLAMABAD: The defaulters of sugar mills had appealed to provide Rs 6.6 billion subsidy on domestic sugar sale, which is dismissed by the government. According to sources, the defaulter sugar mills blamed for being implicated in tax leakages and its demand was determinedly opposed by the commerce ministry. They also emphasized that the freight subsidy granted to milers on sugar exports last year was not acceptable. However, an additional appeal of the sugar industry to authorize state-owned Trading Corporation of…

No subsidy given to power sector last year, says ministry

ISLAMABAD: No subsidy given to the power sector in the previous fiscal year, the Ministry of Water and Power has acknowledged. The ministry has said that a large part of the cost of power subsidy is being recovered by levying the tariff rationalisation surcharge on consumers. The government releases over Rs100 billion in subsidy for the power sector every year and a major part of the subsidy cost is borne by power consumers. The consumers pay over Rs200 billion every year in different surcharges and because of the…

ECC allows export of 0.3 million tonnes of urea fertilizer without subsidy

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet has allowed export of 0.3 million tonnes of urea fertilizer till 28th of April this year without any subsidy. The meeting of the committee was held in Islamabad on Monday with Finance Minister Mohammad Ishaq Dar in the chair. The ECC endorsed continuation of fertilizer subsidy scheme for financial year 2016-17. This should be noted that Prime Minister Nawaz Sharif on 13th January directed for continuation of the provision of subsidy on fertilizers.…

PM directs to continue subsidy on fertilizers

ISLAMABAD: Prime Minister Nawaz Sharif on Friday directed for continuation of the provision of subsidy on fertilizers.  The prime minister said that agriculture is the backbone of the national economy and farmers play a pivotal role to strengthen the economy of the country. He said that farmers will be provided all the basic facilities for improvement of the country. Punjab Chief Minister Shahbaz Sharif had also requested the federal government to restore the subsidy provided on fertilizers. A statement by the CM…

ECC approves increase in sugar subsidy amount

ISLAMABAD: The meeting of the Economic Coordination Committee of the Cabinet on Thursday considered and approved the proposal moved by Ministry of Industries and Production for the import of additional 150,000 tons of Urea Fertilizer for Kharif Season.