Hafeez Shaikh says relief package announced by PM is Rs1.25 trillion

ISLAMABAD (92 News) – Advisor to Prime Minister on Finance Dr Abdul Hafeez Shaikh said that Prime Minister has announced a massive relief package amounting to Rs1.25 trillion to support the business community and provide relief to the poor in wake of the coronavirus pandemic. Briefing the media on the economic relief package, he said that an amount of Rs200 billion has been allocated for unemployed labourers. Hafeez Shaikh said that a sum of Rs100 billion has been earmarked to provide liquidity as tax refunds to the export industry to protect the export sector. Regarding small and medium enterprises and agriculture sectors, he said that the government has allocated Rs280 billion to purchase wheat from the farmers. “People will be allowed to deposit their bills in installments,” he said. The adviser said that the price of fertilizers will be reduced and small businessmen will be given loans on easy terms. “An amount of Rs150 billion rupees has been earmarked to provide a financial assistance of Rs3,000 to 12 million families across the country for four months.” Hafeez Shaikh declared that Rs50 billion are being given to utility stores to provide daily-use items, especially flour, ghee, sugar and pulses to the countrymen at the subsidized rates. Regarding ensuring protection of health workers, the finance advisor said that an additional amount of Rs50 billion has been kept to purchase protective gear. He announced that the National Disaster Management Authority (NDMA) will get Rs25 billion to fight the pandemic. Hafeez Shaikh said that tax on edible items is being completely abolished or massively reduced to facilitate the masses.