ISLAMABAD: The Finance Ministry has stated that the government has provided Rs 4.975 trillion subsidy to the power sector from fiscal year 2011-12 onward in addition to the amount utilised to stem the growth in circular debt.

According to official details, year-wise power sector subsidy from fiscal year 2011-12 onwards included; Rs 406 billion subsidy was provided to power sector in fiscal year 2011-12, followed by Rs 344 billion in 2012-13.

Finance Ministry maintains that Rs 292 billion subsidy to the power sector was provided in fiscal year 2013-14 and Rs 221 billion in 2014-15.

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The government has provided Rs 171 billion subsidy to the power sector in fiscal year 2015-16 and Rs 118 billion in fiscal year 2016-17, finance ministry stated adding that Rs 84 billion subsidy to the power sector was provided in fiscal year 2017-18, and Rs 181 billion in fiscal year 2018-19.

The government provided Rs 270 billion subsidy to the power sector in the fiscal year 2019-20 followed by Rs 366 billion in 2020-21 and the amount of subsidy in the remaining fiscal year surged, Rs 726 billion in 2021-22 while Rs 724 billion in 2022-23 and Rs 419 billion in fiscal year 2023-24. Finance Ministry has stated that the government has budgeted subsidy of Rs 653 billion for the power sector for the current fiscal year.

Copyright Business Recorder, 2024