AGL 38.74 Increased By ▲ 0.18 (0.47%)
AIRLINK 218.85 Increased By ▲ 11.08 (5.33%)
BOP 10.04 Decreased By ▼ -0.02 (-0.2%)
CNERGY 6.70 Decreased By ▼ -0.38 (-5.37%)
DCL 9.64 Decreased By ▼ -0.35 (-3.5%)
DFML 40.37 Decreased By ▼ -0.77 (-1.87%)
DGKC 101.40 Decreased By ▼ -2.06 (-1.99%)
FCCL 35.94 Decreased By ▼ -0.41 (-1.13%)
FFBL 89.00 Decreased By ▼ -2.59 (-2.83%)
FFL 14.24 Decreased By ▼ -0.36 (-2.47%)
HUBC 137.20 Decreased By ▼ -2.23 (-1.6%)
HUMNL 14.00 Decreased By ▼ -0.10 (-0.71%)
KEL 5.80 Decreased By ▼ -0.17 (-2.85%)
KOSM 7.37 Decreased By ▼ -0.49 (-6.23%)
MLCF 46.55 Decreased By ▼ -0.73 (-1.54%)
NBP 66.38 Decreased By ▼ -7.38 (-10.01%)
OGDC 222.00 Decreased By ▼ -0.66 (-0.3%)
PAEL 38.99 Increased By ▲ 0.88 (2.31%)
PIBTL 9.01 Decreased By ▼ -0.26 (-2.8%)
PPL 201.80 Decreased By ▼ -4.05 (-1.97%)
PRL 39.65 Decreased By ▼ -0.20 (-0.5%)
PTC 26.30 Decreased By ▼ -0.32 (-1.2%)
SEARL 106.30 Decreased By ▼ -3.94 (-3.57%)
TELE 9.12 Decreased By ▼ -0.11 (-1.19%)
TOMCL 38.00 Decreased By ▼ -0.21 (-0.55%)
TPLP 13.78 Increased By ▲ 0.01 (0.07%)
TREET 26.00 Decreased By ▼ -0.45 (-1.7%)
TRG 59.50 Decreased By ▼ -1.04 (-1.72%)
UNITY 33.70 Decreased By ▼ -0.44 (-1.29%)
WTL 1.78 Decreased By ▼ -0.10 (-5.32%)
BR100 12,144 Decreased By -155.1 (-1.26%)
BR30 38,135 Decreased By -742.3 (-1.91%)
KSE100 113,243 Decreased By -1617.4 (-1.41%)
KSE30 35,670 Decreased By -526 (-1.45%)

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved continuation of Prime Minister’s Relief Package for fiscal year 2024-25 besides declaring warehousing and logistic sector as an industry.

Sources in the Finance Ministry said the meeting chaired by Finance Minister Muhammad Aurangzeb in a summary was informed that Rs 60 billion has been allocated for the fiscal year 2024-25 under Prime Minister’s Relief Package and Ramazan Relief Package 2024.

The meeting was informed that the allocation included Rs50 billion for Prime Minister’s Relief Package and Rs10 billion for Ramazan Relief Package.

They added that the USC is providing five essential items on subsidised rates, since January 2020, under Prime Minister’s Relief Package (PMRP) and during fiscal year 2023-24, federal cabinet had granted approval of Rs35 billion till 30th June 2024 as targeted subsidy model which has been implemented by the USC.

PM Shehbaz visits utility stores to review Ramazan package

As the amount of subsidy is to be utilised to provide relief to poor segments of the society, mapped through Benazir Income Support Program (BISP) data, five essential items have been provisioned for targeted population registered with B1SP on subsidised rates.

The Ministry of Industries sources said the existing subsidy (per household) of Rs2,734 per month for fiscal year 2023-24,whereas, is now being proposed after revising Rs3,650per month for 2024-25 with an increase of Rs916 per month or 25.09 percent in overall subsidy per household.

The ministry requested for direction to the Finance Division for release the funds on a monthly basis of the Prime Minister’s Relief Package 2024-25 for 10 months from 1stAugust 2024 to 30th June 2025 (excluding the month of Ramazan as well as approval of prime minister relief package on existing targeted subsidy (PMT-40) with proposed revised price and subsidy and continuation of Prime Minister’s Relief Package beyond 30thJune 2024 till 31stJuly2024 as per subsidy utilisation or till approval of proposed package on existing targeted subsidy model and prices.

The ECC was also requested for approval of turnover tax at the rate of 1.25 percent on subsidy to the FBR from the budgeted amount of subsidy for fiscal year 2024-25.

Copyright Business Recorder, 2024

Comments

Comments are closed.

T Aug 16, 2024 07:16am
usc offers peanuts with attitude and hassle, mere shoulder patting and nothing beneficial.
thumb_up Recommended (0)
Aam Aadmi Aug 16, 2024 10:57am
These lollipops will not do. It is acquestion of bread and onion.
thumb_up Recommended (0)
KU Aug 16, 2024 12:20pm
These poor segments have increased in size/volume, n every month millions are joining them. FM must wake up to reality n create employment opportunities for masses, tipping point of anger is near.
thumb_up Recommended (0)