Tag Archives: Subsidy

SBP invites claimants for FRP subsidy from other sectors

SBP invites claimants for FRP subsidy from other sectors

KARACHI – The State Bank of Pakistan (SBP) has advised banks, development finance institutions (DFIs) and microfinance banks (MFBs) to submit claims for second installment of the government’s mark-up rate subsidy under Fiscal Relief Package (FRP).
The FRP is a government facility provided to augment eligible sectors other than the textile industry in war-torn Khyber Pakhtunkhwa and federally and provincially administered tribal areas of the country. According to a Circular

Subsidy on export financing cut by 1pc

KARACHI – In a move thought to be in line with the conditions on subsidies stipulated by the International Monetary Fund (IMF) under stand-by arrangement, the State Bank of Pakistan (SBP) on Friday revised the banks’ refinancing rates for the exporters by one percent.
After the latest revision which, the State Bank said would come into effect from January 2011, exporters will find the cost of borrowing from the commercial banks adjusted by one percent to stand at 11 percent

Govt accedes on Rs 6 billion subsidy for urea importers

ISLAMABAD: The government conceded to importers and manufacturers demand to provide a subsidy of Rs 6.0 billion on the import of 0.225 million tonnes of urea during the current financial year.
This agreement was reached at a specially convened meeting of fertiliser importers and manufacturers with the government officials on Tuesday, sources said, adding that the importers would submit their import schedules to the government on Wednesday.
Sources stated that gas deficit in

KBP annoyed by subsidy removal, declares countrywide protest

LAHORE: The Kissan Board Pakistan (KBP) has announced a countrywide protest from December 13 against the removal of subsidy on agriculture inputs and other agriculture related issues faced by farmers. KBP Secretary Information Haji Muhammad Ramadan has asked the government to ensure a minimum sugarcane price of Rs 280 per maund.
In addition, he has demanded restoration of subsidy on agricultural inputs and urged the authorities to ensure payment of agriculture produce through

Sindh suspends subsidy on brand new tractors

KARACHI: The Sindh government has ceased provision of subsidy on brand new tractors to the poor growers and has hence caused further trouble to the already suffering agriculture sector of the province, it is reliably learnt.
The Agriculture Department of the Sindh government had launched a scheme of granting subsidy on tractors and disbursed at least 5,000 tractors to growers in the initial phase.
However, the facility has recently been withdrawn as the provincial

LHC seeks report on travel subsidy for handicapped

LAHORE: Lahore High Court (LHC) on Tuesday, demanded a report from Pakistan international airlines (PIA) managing director, ministry of defense and federal secretary transport regarding the subsidizing of travel facilities to the handicapped. President Asif Ali Zardari had announced a 50 percent discount in fare for the handicapped in 2009.
The court passed the order on the petition of Afzal Humayyun, which stated that on 30 December 2009 the president of Pakistan speaking on the