47. Pakistan Economic Survey 2011-12 - Consultancy Services in ...

tariff increases of 6%, 12% and 6% at the startof the three quarters on 1 st Jan, 1 st April and 1 stOctober 2010.EnergyTo enable the Power Sector to meet its cashshortfall, the following Tariff DifferentialSubsidies have been released during theperiod:Table 14.8: Tariff Differential Subsidies (Rs. in billion)2008-09 2009-10 2010-11 2011-12 (upto Mar-12)109.173 178,841 346.096 93.250Source: Corporate Finance WingBecause of the policy implementation by thegovernment the inter circular debt has shown adeclining trend over the period July-Mar 2011-12as shown in figure below:Figure 14.7: Inter Corporate Circular Debt for period July-March 2011-12350,000300,000250,000Intercircular DebtRs in Million200,000150,000100,00050,0000Jul Aug Sept Oct Nov Dec Jan Feb MarSource: Corporate Finance WingJuly-March 2011-1214.3-a Crude OilThe total supply of crude oil for the fiscal year2010-11 was 75.3 million barrels, equal to 10.1million TOE, out of which 68.1 percent wasimported and 31.9 percent was locally extracted.The balance recoverable reserves of crude oil inthe country as on December 31st, 2011 have beenestimated at 247.53 million barrels in the country.The average crude oil production during July 2011to Mar 2012 remained 66032 barrels per day asagainst 65997 barrels per day during thecorresponding period of last year, showing anincrease of 0.05 percent. During the period underreview, 39669 (60 percent) barrels per day wereproduced in northern region and 26364 (40percent) barrels per day in southern region, asagainst 34762.28 (53 percent) barrels and 31234.22(47.33 percent) barrels produced per dayrespectively in the same period last year. DuringJuly 2011 to March 2012, production of crude oilhas increased by 14.11 percent from northernregion whereas production decreased in southernregion by 16 percent, as compared to same periodlast year overalls 0.05 percent oil productionincreased in the country. The company wise detailof production of crude oil during July-March 2011-12 and corresponding period of the last fiscal yearis as given below:203