Recovery Plan of Economy
Government of Pakistan has announced that PKR 1.2 trillion (approx. $8 billion USD) would be spent through a multi-sectoral relief package to address the challenges arisen due to the outbreak of Covid-19.
The overall economic package includes:
- PKR 200 billion for relief to daily wage workers;
- PKR 150 billion for cash transfers to low-income families;
- PKR 100 billion for accelerated tax refunds to export industry;
- PKR 100 billion for financial support to support the Agriculture sector and SMEs;
- PKR 280 billion for accelerated procurement of Wheat;
- PKR 50 billion for financial support to Utility Stores;
- PKR 70 billion for relief in Fuel prices [Rs. 15/liter decline in prices of gasoline and diesel];
- PKR 15 billion to support health and food supplies;
- PKR 110 billion relief to people in electricity bill payments;
- PKR 100 billion for Emergency Energy provision; and
- PKR 25 billion for transfer to National Disaster Management Authority (NDMA) to purchase necessary equipment to deal with pandemic.
Measures to Boost Economy
- United Nations Development Programme (UNDP) is supporting the Planning Commission in establishing a secretariat for multi-sectoral planning, financing, coordination and programmatic implementation.
- World Health Organization (WHO) is supporting Ministry of National Health Services, Regulation and Coordination (NHSR&C) to coordinate response to COVID-19 through provision of technical support to the development of National Action Plan for of COVID-19, leading the development of Strategic Preparedness and Response Plan for the Government and UN.
- United Nations Population Fund (UNFPA) is engaged in advocating for specific quarantine arrangements and services for women and girls. Moreover, UNFPA is advocating for the provision of reproductive health services to the most vulnerable population during this crisis.
- Pakistan Poverty Alleviation Fund (PPAF) has partnered with 19 organizations and covers 109 Union Councils in the 19 poorest districts across Khyber Pakhtunkhwa, Balochistan and Sindh.
- Since inception till 30th September 2020, a total of 62,056 households have received economic revival assistance in the form of livestock fodder, food packages, agricultural inputs, emergency interest free loans, small enterprise and kitchen gardening. During September 2020, 5821 households who received economic revival assistance.
- 40 laboratories in the major cities across the country have been designated to support COVID diagnostics, and are undergoing trainings to collect the samples from suspected cases on bio-safety and bio-security standards.
- Till mid October, execution of 52 development projects in FY 2021 has been authorized by Ministry of National Health Services, Regulations & Coordination.
- 28 development projects of Ministry of Federal Education and Professional Training are authorized by mid of October.
- The government launched “Ehsaas Emergency Cash Program” with total allocation of Rs 144 billion to provide immediate cash relief of Rs 12,000 to 12 million families of daily wage earners. Ehsaas Emergency Cash Program has completed its original target of distribution of funds to over 12 million beneficiaries, the government has set a new target of 16.9 million beneficiaries and budgetary allocation raised to Rs 203 billion.
Steel, Automobile, Cement, Textile, Agriculture, Banking, Insurance, Real Estate, Aviation, Education, Tourism.