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In FY 2024, the federal government gives institutions Rs 437 billion.

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The Ministry of Finance revealed that a total of Rs 437 billion was given as support to different government agencies in Pakistan during the first half of fiscal year 2024.

Of this, Rs232 billion was set aside for subsidies to Pakistani public sector organizations. Furthermore, subsidies totaling Rs 120 billion were given to Pakistani government organizations between July and December 2023.

During the first half of the previous fiscal year, Pakistani government institutions received loans totaling Rs 85 billion. Sui Southern Gas Company in Pakistan was one of the main beneficiaries of the subsidies.

Other well-known Pakistani organizations that benefited from subsidies are Hyderabad Electric Supply Company (HESCO), which received Rs 18.34 billion, and Lahore Electric Supply Company (LESCO), which received Rs 26.24 billion. Subsidies totaling Rs11.63 billion went to the Utility Stores Corporation of Pakistan.

In addition, Power Holding received a grant of Rs88.52 billion in the first half of fiscal year 2024, followed by Pakistan Railways with Rs27.5 billion and the National Highway Authority (NHA) with Rs4 billion.

Apart from subsidies, the Pakistani federal government also gave loans, giving NHA approximately Rs 25 billion and Pakistan Steel Mills Rs 35.54 billion.

The National Transmission & Despatch Company (NTDC) received Rs6.1 billion, Printing Corporation received Rs1.2 billion, JENCO-II received Rs16.53 billion, and Radio Pakistan received Rs210 million. MEPCO, PESCO, and LESCO also received loans during this period. receiving Rs47 billion, while MEPCO (Multan Electric Power Company) received Rs42.56 billion.

A report released on December 27 by the Pakistan Bureau of Statistics states that over the past year, the cost of some goods in Pakistan has significantly increased while the cost of others has decreased.

The research claims that the price of tomatoes has increased significantly, rising by 138.53 percent (pc). Women’s sandal prices increased by 75.09 percent, while the cost of potatoes increased by 61.17 percent. Lentils, too, experienced a price surge, with chana dal increasing by 51.17 pc and mung dal by 31.51 pc.

Prices for beef increased by 24.28 percent, while those for powdered milk increased by 25.62 percent. Garlic became 17.27 pc more expensive, and cooked lentils went up by 15.10 pc. Gas charges in Pakistan have also risen by 15.52 pc, and firewood prices climbed by 13.14 pc.

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The government has announced a 50% reduction in EV charging station power rates.

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For electric vehicle charging stations, the federal government has agreed to offer a 50% electricity price reduction.

Electricity for charging stations is now available for Rs45 per unit; when taxes are taken into account, the price rises to Rs71.10 per unit.

The federal government has announced that, following a decrease in tax rates, charging stations will now cost Rs23.57 per unit instead of Rs39.

To establish new fees for EV charging stations, the government has petitioned the National Electric Power Regulatory Authority (NEPRA). On February 12, the authority will hear the government plea.

According to the petition, cross-subsidization will be used to manage the discrepancy between the current and new rates, and all taxes and adjustments

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As the week begins, selling pressure causes PSX to bleed.

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Monday began the week with a bearish rally on the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 index hovering at 113,950 points after dropping more than 300 points.

Bearish trends dominated the market for the majority of the week, as seen by the KSE-100 index closing at 114,255 points at the end of the week.

The Pakistan Stock Exchange (PSX) was dominated by bulls on Friday as investors remained optimistic following recent pledges from US investors.

Up 1,588.08 points during intraday trade, the benchmark KSE-100 index reached 114,794.48 points at 11:24 a.m.

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Revolution in Pakistan’s Livestock Industry: Fongrow Farms’ IVF Training Is Led by Brazilian Experts

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With the help of SIFC, Fongrow is implementing a new project at its Livestock Farms in Khanewal that is significantly boosting Pakistan’s economy and food security.

The business has started an advanced training course on reproductive technology, with an emphasis on IVF, embryo transfer, and ovum pickup. Brazilian professionals are among the international experts leading this three-week training.

Through the introduction of innovative procedures that will improve livestock reproduction, raise the production of milk and meat, and ultimately improve the nation’s food security, the program is anticipated to transform the livestock sector.

More calves can be raised with the use of IVF and ovum pickup techniques, increasing livestock yield overall.

To give Pakistani veterinary experts and embryologists the most up-to-date information on animal breeding, the training program offers them contemporary learning possibilities.

With SIFC’s help, Fongrow is spearheading agricultural innovation, advancing Pakistan’s food security and sustainable farming practices.

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