{"id":66027,"date":"2020-05-31T10:00:24","date_gmt":"2020-05-31T05:00:24","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=66027"},"modified":"2020-05-29T17:24:17","modified_gmt":"2020-05-29T12:24:17","slug":"budget-2020-21-govt-mulls-subsidy-for-power-sector","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/budget-2020-21-govt-mulls-subsidy-for-power-sector.html","title":{"rendered":"Budget 2020-21: Govt mulls subsidy for power sector"},"content":{"rendered":"\n<p>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\u2019s budget is planned to be unveiled in the second week of June \u2014 with reports claiming that it will be presented before the National Assembly on June 12.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fixed-covid-19-tax-proposed-budget-2020-21-inclusion.html\" target=\"_blank\" rel=\"noreferrer noopener\">Fixed \u2018COVID-19 tax\u2019 proposed for Budget 2020-21 inclusion<\/a><\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>Reportedly, the planned subsidy also includes a sum for K-Electric \u2014 with sources quoting figures ranging between PKR 15 billion to PKR 23 billion.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/no-new-taxes-introduced-budget-2020-21-hafeez-sheikh.html\" target=\"_blank\" rel=\"noreferrer noopener\">No new taxes to be introduced in Budget 2020-21: Hafeez Sheikh<\/a><\/p>\n\n\n\n<p>Recently, the country\u2019s 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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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\u2019s budget is planned to be unveiled in the second week of June \u2014 with reports claiming that it will be presented before the National Assembly on June 12. Read: Fixed \u2018COVID-19 tax\u2019 proposed for Budget 2020-21 inclusion 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 \u2014 with sources quoting figures ranging between PKR 15 billion to PKR 23 billion. Read: No new taxes to be introduced in Budget 2020-21: Hafeez Sheikh Recently, the country\u2019s 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.<\/p>\n","protected":false},"author":18,"featured_media":63188,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015,15016],"tags":[28356,30423],"persona":[],"class_list":{"0":"post-66027","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"category-new-developments","9":"tag-budget-2020-21","10":"tag-subsidies-planned-in-budget-2020-21","11":"cat-15015-id","12":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Budget 2020-21: Govt mulls subsidy for power sector - Zameen News<\/title>\n<meta name=\"description\" content=\"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.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/budget-2020-21-govt-mulls-subsidy-for-power-sector.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget 2020-21: Govt mulls subsidy for power sector - Zameen News\" \/>\n<meta property=\"og:description\" content=\"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.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/budget-2020-21-govt-mulls-subsidy-for-power-sector.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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