Federal government disburses over Rs437b in support to institutions during first half of FY2024

The federal government extended significant financial support to various institutions in the first half of the fiscal year 2024, amounting to Rs437 billion, according to details released by the Ministry of Finance, reported 24NewsHD TV channel.

The support included subsidies, grants, and loans provided between July and December 2023.

Subsidies formed the largest portion of the financial assistance, totalling Rs 232 billion. Among the recipients, Sui Southern Gas Company received the highest subsidy of Rs 47 billion. Mepco was allocated Rs 42.56 billion, followed by CASCO with Rs 26.24 billion and HESCO with Rs 18.34 billion. Utility stores were also supported with a subsidy of Rs 11.63 billion.

Grants provided during this period amounted to Rs 120 billion. Power Holding received a significant share of Rs 88.52 billion, while Pakistan Railways was granted Rs 27.50 billion. The National Highway Authority (NHA) was given Rs 4 billion in grants.

The government also provided Rs 85 billion in loans to various institutions during the first half of FY2024. The National Highway Authority (NHA) was a major recipient, securing loans worth more than Rs 25 billion.

Pakistan Steel Mills received Rs 35.54 billion, while Gencoz and NTDC were allocated Rs 16.53 billion and Rs 6.10 billion, respectively. Additional loans included Rs 1.20 billion to the Printing Corporation and Rs 21 crore to Radio Pakistan. Loans were also extended to Mapco, Pesco, and Kisco.

This substantial financial assistance underscores the federal government's commitment to supporting key public sector institutions, ensuring their operational stability and contribution to the national economy.