Rs188bn subsidy budgeted for power sector

ISLAMABAD: The government has budgeted Rs 188 billion subsidy to the power sector for the current year against Rs 118 billion in the current fiscal year – an increase of 59 percent.

Advisor to Prime Minister on Finance Miftah Ismail publicly stated that an increase in power generation would raise the need for higher subsides and the government, while keeping this aspect in view, has allocated the power sector higher subsidies in 2018-19 compared to current fiscal year.

The Advisor also stated that the present government will issue Term Finance Certificates (TFCs) to eliminate accumulated circular debt before the end of its tenure. He said present government will ensure sustainability of power supply for the first six months of next fiscal year.

Published in Business Recorder, 22nd April, 2018