Subsidy for USC rises by 200pc

Saturday, 02 June 2012 11:05

Posted by Imaduddin

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RECORDER REPORT

KARACHI: The federal government has estimated Rs 6 billion subsidy for the Utility Stores Corporation (USC) to provide cheap commodities to masses.

According to fiscal budget 2012-13 documents, government has enhanced subsidy for the USC by 200 percent to Rs 6 billion for next fiscal year as compared to Rs 2 billion for this fiscal year.

Out of Rs 6 billion, Rs 2 billion has been allocated for Ramazan Package, while an amount of Rs 4 billion has been estimated for sugar subsidy.

Subsidies for Passco have been reduced to Rs 5.14 billion for fiscal year 2012-13 from Rs 19.6 billion of revised subsidies for current fiscal year. Out of total subsidies of Passco, Rs 1.14 billion has been allocated for wheat operation and Rs 4 billion for wheat reserve stocks.