Prime Minister Imran Khan’s Advisor on Finance Dr Abdul Hafeez Shaikh says the government has announced a massive relief package amounting to 1.25 trillion rupees to support the business community and to provide relief to the poor people in wake of the outbreak of COVID-19.
Sources said that the federal government has ordered early disbursement of salaries and pensions. Salaries and pensions will be transferred to the accounts by this Friday. Salaries and pensions will be paid by March 27, sources of finance ministry said.
According to the details, Talking to media in Islamabad on Wednesday evening, he said 200 billion rupees have been allocated for the labour class, which can risk their jobs due to steps being taken to contain the pandemic.
The Advisor said, 100 billion rupees have been earmarked to provide liquidity as tax refunds to the export industry to protect the export sector.
The press release also said, Regarding small and medium enterprises and agriculture sectors, he said 100 billion rupees have been reserved to facilitate farmers and small factory owners.
He said, 150 billion rupees will be spent to provide financial assistance of three thousand rupees to 12 million families across Pakistan for four months.
Earlier today, Prime Minister Imran Khan chaired a meeting of federal cabinet.
The meeting was held via video link. Meeting of federal cabinet discussed the situation arising out of coronavirus and the steps taken by the government to contain the spread of the contagion.
Meeting of federal cabinet reviewed the impact of the epidemic on the country’s economy. It also discussed a package for the construction sector.