Islamabad                  -             A high level meeting chaired by Prime Minister Imran Khan on Monday approved a multibillion economic relief and stimulus package to be announced today (Tuesday).

Chairing the meeting about possible impact of COVID-19 on the economy and steps to provide relief to the common people, Prime Minister said the government would go to any extent to protect weaker segments of society in view of prevailing crisis owing to the coronavirus outbreak.

He said that there should be no obstruction in supply of edible items and medicines and every possible step should be ensured on the administrative level to avert hoarding so that nobody might take undue advantage of the situation.

The meeting was attended by Chief of Army Staff General Qamar Javed Bajwa, Federal Ministers and other senior officials.

Governor State Bank of Pakistan, Raza Baqir and finance ministers of Punjab and Khyber Pakhtunkhwa also attended the meeting through video link.

Meanwhile, Federal Minister for Economic Affairs Hammad Azhar, who also attended the meeting, tweeted that the package will be announced today (Tuesday).

“The objectives of the Economic Relief and Stimulus package is to provide relief to vulnerable segments, to prevent job losses, encourage smooth supply of essential goods at reasonable prices, support businesses and stimulate the economy,” Hammad Azhar added.

He said that Prime Minister Office, members of cabinet and government officers in multiple divisions had worked tirelessly over the past few days to work out proposals and take decisions.

On Friday, Prime Minister had told a group of media persons about the proposed economic relief package.

Speaking on the occasion, Advisor to the Prime Minister on Finance, Dr. Abdul Hafeez Shaikh had said that the government had planned to cut taxes and provide subsidy on items in wake of the coronavirus outbreak.

He had said the finance ministry would devise strategies in order to save the country from economic meltdown.

Dr. Sheikh had said the economic indicators of the country were showing progress before the eruption of coronavirus.

He said as the global economy was slowing down due to the global pandemic, our exports were also likely to have an adverse impact. “It could also reduce the foreign remittances received by the country, besides plummeting the job creation opportunities,” the Advisor said.

Dr Abdul Hafeez Shaikh had said a survey was being conducted to understand which industries were hardly hit due to the prevailing crisis.

He said as part of stimulus measures, taxes will be reduced on certain products while subsidies will be given on others.

The Advisor said every effort will be made that relief worth 280 billion rupees to farmers is not disturbed.

He said disbursements under Ehsaas program will be accelerated so that vulnerable segments of the society are not impacted by the corona threat. Ends possible step should be ensured on the administrative level to avert hoarding so that nobody might take undue advantage of the situation.

The meeting was attended by Chief of Army Staff General Qamar Javed Bajwa, Federal Ministers and other senior officials.

Governor State Bank of Pakistan, Raza Baqir and finance ministers of Punjab and Khyber Pakhtunkhwa also attended the meeting through video link.

Meanwhile, Federal Minister for Economic Affairs Hammad Azhar, who also attended the meeting, tweeted that the package will be announced today (Tuesday).

“The objectives of the Economic Relief and Stimulus package is to provide relief to vulnerable segments, to prevent job losses, encourage smooth supply of essential goods at reasonable prices, support businesses and stimulate the economy,” Hammad Azhar added. He said that Prime Minister Office, members of cabinet and government officers in multiple divisions had worked tirelessly over the past few days to work out proposals and take decisions.

On Friday, Prime Minister had told a group of media persons about the proposed economic relief package.

Speaking on the occasion, Advisor to the Prime Minister on Finance, Dr. Abdul Hafeez Shaikh had said that the government had planned to cut taxes and provide subsidy on items in wake of the coronavirus outbreak.

He had said the finance ministry would devise strategies in order to save the country from economic meltdown.

Dr. Sheikh had said the economic indicators of the country were showing progress before the eruption of coronavirus.

He said as the global economy was slowing down due to the global pandemic, our exports were also likely to have an adverse impact. “It could also reduce the foreign remittances received by the country, besides plummeting the job creation opportunities,” the Advisor said.

Dr Abdul Hafeez Shaikh had said a survey was being conducted to understand which industries were hardly hit due to the prevailing crisis.

He said as part of stimulus measures, taxes will be reduced on certain products while subsidies will be given on others.

The Advisor said every effort will be made that relief worth 280 billion rupees to farmers is not disturbed.

He said disbursements under Ehsaas program will be accelerated so that vulnerable segments of the society are not impacted by the corona threat.