Tag: subsidy
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No plan proposed to raise petrol prices at pre-budget seminar, clarifies Miftah
After a tremendous increase of Rs60 in less than a month, Finance Minister Miftah Ismail announced Tuesday that the price of petroleum goods in the country would rise even more. Ismail mentioned in his statement at the one-day pre-budget business conference that if the government had followed ex-prime minister Imran Khan and former finance minister…
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40-50 per cent hike expected in gas tariff
The government plans to hike the system gas tariff by up to 50 per cent as part of its efforts to gain access to the International Monetary Fund (IMF) bailout. The Ministry of Energy anticipates the Oil and Gas Regulatory Authority (OGRA) determining the revenue requirement for the coming fiscal year in June. As per…
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PM Shehbaz to announce relief package for the poor
Prime Minister (PM) Shehbaz Sharif will announce a relief package soon for those who are unable to afford fuel after a massive hike imposed by the government. This is undoubtedly an excellent news for the lower-income strata, as the recent petrol hike has weighed heavily on the inflation-stricken masses. Finance Minister Miftah Ismail announced last…
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Petroleum Division refutes Imran Khan’s assertion about Russia’s low-cost fuel offer
There is no formal evidence in the petroleum division of Russia’s offer of inexpensive LNG, crude oil, and POL products, as former Prime Minister Imran Khan has often claimed. Syed Zakria Ali Shah, Joint Secretary of Development and a spokesman for the Petroleum Division, stated this to a reporter. According to sources in the petroleum…
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The recent ban on imports might barely make a dent
On Thursday, May 19th, 2022, the federal cabinet issued a list of 41 items which will be banned from being imported for two months. This is in an attempt to address the current account deficit. The list of products is banned from being imported into the country, which means that essentially any shops or restaurants…
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PM Shehbaz rejects OGRA’s proposal, petrol price to remain unchanged till April 30
Pakistan’s new Prime Minister (PM) Shehbaz Sharif on Friday dismissed the proposal from the Oil and Gas Regulatory Authority (OGRA) to raise the price of petroleum products for the fortnight. The recent decision is aimed at providing relief to the public affected by inflation. It is worth noting that the present government’s choice to maintain the…
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Khyber Pakhtunkhwa cabinet approves Rs2.5 billion subsidy under Ramzan package
The Khyber Pakhtunkhwa (KP) cabinet on March 29 okayed a subsidy package of Rs2.5 billion for the upcoming holy month of Ramzan, to ensure an uninterrupted supply of edible items at lesser rates. KP Chief Minister Mahmood Khan presided over the meeting, which was attended by ministers, chief minister’s advisers, and administrative secretaries. Following the…
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Budget explained: How it will affect you
Finance Minister Shaukat Tarin unveiled the budget 2021-22. The total expenditure of the budget had been kept at Rs 8,478 billion and had set the tax collection target at Rs 5,829 billion. Leader of the Opposition in the National Assembly Shehbaz Sharif and Pakistan People’s Party (PPP) chief Bilawal Bhutto Zardari were in the house. Opposition…
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Imran announces Rs30 billion subsidy for Naya Pakistan housing
Prime Minister (PM) Imran Khan has announced Rs30 billion in subsidy for his government’s flagship Naya Pakistan housing scheme project in line with helping the underprivileged class build their own homes. Addressing the nation after chairing a meeting of the National Coordination Committee on Housing, Construction, and Development, PM Imran on Friday said the scheme…
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Rs10 billion subsidy approved to control inflating food prices
To counter the effects of inflating food prices, the federal cabinet on Tuesday approved a detailed package of Rs10 billion subsidies for Utility Stores, Dawn reported. According to reports, the government will open thousands of stores in Pakistan, moreover, consumer items at subsidised rates will be supplied to 50,000 tandoors and dhabas. To address the…