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Reading: Federal Government Ends Gas Subsidy for Fertilizer Factories
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Gas Subsidy Fertilizer Factories
PhotoNews Pakistan > Business > Federal Government Ends Gas Subsidy for Fertilizer Factories
Business

Federal Government Ends Gas Subsidy for Fertilizer Factories

Web Desk
By Web Desk Published May 25, 2024 1 Min Read
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PM Shehbaz Sharif in the cabinet meeting. Photo: The News Today
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The federal government has officially approved the termination of the gas subsidy for fertilizer factories, a move to reform financial support to benefit farmers more directly.

The unanimous decision by the federal cabinet marks a significant shift in policy.

Previously, fertilizer factories received a subsidy of Rs 217 per MMBtu and gas at a reduced rate of Rs 1597 per MMBtu. However, the government has determined that this subsidy model has not effectively supported farmers, who are the intended beneficiaries.

The federal government has shared with the International Monetary Fund (IMF) a plan to substantially increase gas prices next fiscal year for various sectors including domestic users, fertilizer plants, CNG stations, and cement factories.

Read More: https://t.co/wXCcdEnTBx pic.twitter.com/ubjiHTte2E

— ProPakistani (@ProPakistaniPK) May 22, 2024

The cabinet’s decision will discontinue the subsidized rate, elevating the price of gas supplied to fertilizer factories to Rs 1814 per MMBtu.

The government plans to implement a system of direct subsidies to farmers, aiming to provide more targeted and efficient financial support.

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