ISLAMABAD: The federal government will soon announce an economic relief package for the people and businesses being affected by the coronavirus outbreak in the country.
Sources said that the Ministry of Finance is working out a package to provide subsidy to the people of the country and under this package, concession would be awarded in electricity bills, gas bills while a Rs20 reduction is likely to be announced in petrol price. The ministry is also planning to add some measures in the upcoming federal budget and subsidy is likely to be given to farmers, workers and peasants, they added.
Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh met Special Assistant to the Prime Minister on Social Protection and Poverty Alleviation Dr Sania Nishtar on Sunday and different options and proposals as part of the proposed package were discussed.
Sources said that the government may enhance the amount allocated for its social safety programme which currently stands at Rs190 billion. There is a space for Rs200 billion to Rs300 billion under the Ehsaas Programme and the premier can announce those funds for the public and if the situation gets worse, the government may use the amount allocated for the Ehsaas Programme, they added.
They also said that the premier will also announce a support package for low cost housing as government can provide loans with 7 per cent interest rate to ensure affordable housing.
They further said that a considerable subsidy is also being planned in the prices of food and eatables and Ministry of Food is also working with Ministry of Industries to help provide food items on subsidised and cheaper prices.
Sources said that Pakistani envoys in China and Italy are also studying the subsidies announced by the two countries during their lockdown and they are working to prepare proposals for Pakistan in the same manner.
They said that the government was planning to provide cash grants to daily wagers affected by the lockdown while food packages would also be provided to their families by Utility Stores Corporation on subsidised rates. The FBR is also looking for more areas to provide relief to importers of relevant medicines and related products, they added.
The prime minister will chair a high-level meeting on Monday to give final touches to the relief package.
It is pertinent to mention here that the State Bank of Pakistan (SBP) had already announced relief measures for exporters last week. Meanwhile, the Federal Board of Revenue (FBR) had also given tax exemption on 61 health-related machinery and compulsory equipment.
With additional reporting by Shahzad Paracha
