Pakistan’s economy suffering due to Coronavirus crisis: Hafeez

Pakistan’s economy suffering due to Coronavirus crisis: Hafeez
Islamabad: Advisor to Prime Minister on Finance Dr. Abdul Hafeez Sheikh has said that Pakistan’s economy is bearing the brunt of Coronavirus crisis.

While addressing media in Islamabad today, he announced a government relief package of Rs. 1.25 trillion to cope with Coronavirus crisis.

“The government has announced relief package of Rs1.25 trillion to support the economy. The package will grant relief to daily wage workers and to small and medium enterprises,” he said.

He further said that the federal and provincial governments are working together to provide relief to people.

“We have allocated Rs. 200 billion for labour class as their income circle has been affected badly due to steps being taken to contain Coronavirus pandemic,” he said.

Hafeez Sheikh said that Rs. 100 billion has been reserved to facilitate farmers and small factory owners.

“We are trying our best to facilitate people during lockdown. We will spend Rs. 150 billion to provide financial assistance of Rs. 3000 to around 12 million families across Pakistan for a period of four months. To facilitate utility stores, we have allocated Rs. 50 billion to provide daily items, especially flour, ghee, sugar, and pulses on subsidized rates,” he said.

He also announced that government will spend Rs. 50 billion to provide protective gear and other necessary equipment to medical staff fighting in Coronavirus pandemic from the front.

He added that National Disaster Management Authority (NDMA) will get Rs. 25 billion to deal with Coronavirus.