Govt Formulates Comprehensive Strategy For Poverty Alleviation: PM

Aizbah KhanWeb Editor

10th Jun, 2021. 11:59 am
Kashmir Martyrs Day PM Imran pays tribute

Prime Minister Imran Khan has said that the government has formulated a comprehensive strategy to lift the economically weaker sections out of poverty.

Presiding over a high-level meeting of the Kamyab Pakistan Programme, the Premier cited the example of India and China and said that China had lifted millions out of poverty in the last 30 years under such measures while India had failed.

The Prime Minister said that apart from providing financial assistance to the poorer sections of the society, the first priority of the government is to make the people economically self-sufficient.

An adviser to the prime minister told the media that “the government cannot curb inflation but it is taking steps to improve the purchasing power of the common man.”

“We can’t bring prices back to normal, but we can improve people’s purchasing power so that inflation doesn’t affect them,” he said.

The Prime Minister said that the government has taken several steps to improve the purchasing power of the people as Rs. 11 trillion has been given in the form of subsidy to the farmers and agriculture sector which has helped 70% of the country’s population living in rural areas.

The meeting was attended by Federal Minister for Finance Shaukat Tareen, Special Assistants Waqar Masood, Usman Dar, Chairman New Pakistan Housing Authority Lt Gen (retd) Anwar Ali Haider, Chairman Habib Bank Sultan Ali Allana, President Punjab Bank Zafar Masood, concerned senior officials and stakeholders. Attended.

The meeting was briefed on the inclusion of loans for successful businesses, successful farmers and successful craftsmen programs, low-cost housing schemes and loans for successful Pakistan Housing under the Successful Youth Program.

At the behest of the Prime Minister, the government has brought all youth-related programs under the umbrella of a successful Pakistan program.

The meeting was informed that the Successful Pakistan Program would play an important role in increasing economic activities in the country and making people self-sufficient for employment.

The program will provide large-scale new entrants with business, low-cost housing and agricultural loans that will not only provide employment opportunities but also boost economic activity as well as poverty alleviation, GDP growth and the banking sector.

Meanwhile, Information Minister Fawad Chaudhry said in a statement that all the figures show that the economy has improved and the growth rate is estimated at around 3.94%.

He said the PTI government has more than $10 billion in annual debt services, mainly from the PML-N government in the form of short-term and expensive commercial loans ($17 billion) and additional external loans of $49.76.

He said that during the current financial year, the government had to repay about ً 10.36 billion for external loans, including principal and interest payments, while the projected revenue was estimated at $14.37 billion.

Fawad Chaudhry said that in the first 10 months of the financial year 2020-2020, the government has paid $7.52 billion, of which 6 6.31 billion as principal and $1.21 billion as interest.

Adsence 300X250