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Wednesday 1st February 2023 / 10 Rejab 1444

PM announces multi-billion relief package, tax concessions

ISLAMABAD: Prime Minister Imran Khan on Tuesday announced a multi-billion package involving relief for the working class and business community besides lowering fuel prices in the country amid a shutdown in various parts of the country.
While addressing a group of journalists, the prime minister announced concessions and tax refunds for exporters and businessmen to offset the economic effects of a slowing economy. The prime minister also announced Rs100 billion package for SMEs and said they have allocated Rs 100 billion for labour class.
PM Imran Khan said the federal government is in touch with the provinces and business community to devise a strategy for the financial and economic stimulus and added that they should consider all matters before imposing a full lockdown.
“We are giving a tax refund of Rs 100 billion to exporters while Rs 100 billion is also set aside for small and medium industries and agriculture sector,” adding that the interest payment will also be addressed from these sectors.
The prime minister announced a Rs 150 billion package for poor segments of the society under which each household would be given Rs 3000 for the next four months. He also announced to the expand shelter homes and providing Rs 50 billion for utility store to provide basic commodity items at lower prices.
PM Imran also announced to lower the fuel prices in the country by Rs15 per litre, and offered relaxation in payments of utility bills that could now be paid in three-month installments.
He said that the government has also earmarked Rs280 billion for purchase of wheat, while an amount of Rs50 billion was also set aside for purchasing medical equipment needed to tackle coronavirus outbreak.
“We have earmarked Rs 100 billion to counter the effects of lockdown while Rs 25 billion was set aside for NDMA for purchasing necessary equipment to deal with the virus-related issues,” he said.
Prime Minister Imran Khan has said that the country is threatened more by panic than the novel coronavirus, sayin that Pakistan does not have a strong economy like the countries in the West. He also negated the impression that the government was unprepared for the crisis, saying that the administration has been reviewing the situation since January.
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