Federal Minister for Economic Affairs Division, Muhammad Hammad Azhar on Tuesday said the government has announced Rs 1200 billion economic relief and stimulus package.

It seeks to provide relief to vulnerable, support to poor, Small and Medium Entrepreneurs (SMEs), he said this on social media account of twitters here on Tuesday.

Hammad said that Petrol ,diesel prices shall be reduced by Rs 15 per liter. He said that 12 million people will receive Rs 3000 for 4 months.

The Minister said that Rs 50 billion have been set aside for utility store corporation.

The government has also go for concessional loans to SME and Agriculture sector and reduction of taxes on essential commodities also decided, he said.