Islamabad: The federal government is expected to announce a PKR 216 billion subsidy for the power sector under Budget 2020-21, according to a news source. The next fiscal year’s budget is planned to be unveiled in the second week of June — with reports claiming that it will be presented before the National Assembly on June 12.
According to sources within the power division, the government had initially planned to present a PKR 296.5 billion subsidy for the power sector; however, the Finance Division decided to reduce this sum to PKR 216 billion. This deduction is the result of the adverse impact that the COVID-19 outbreak has had on the national economy.
Reportedly, the planned subsidy also includes a sum for K-Electric — with sources quoting figures ranging between PKR 15 billion to PKR 23 billion.
Recently, the country’s power companies operating under the Pakistan Electric Power Company have been facing heavy losses in terms of bill recovery, line losses and electricity theft. This has prompted the government to take action, and formulate a subsidy package.
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