Pakistan govt. announces Rs.1200bn economic relief package - Petrol/diesel prices slashed by Rs.15

[Abdullah719]

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">The govt of Pakistan has announced Rs 1200 billion Econ Relief and stimulus Package.<br>It seeks to provide relief to vulnerable, support to poor, SMEs, industry. Deferment of utility bills of lower income grps, principal + interest for businesses, reduction in fuel prices and more</p>— Hammad Azhar (@Hammad_Azhar) <a href="https://twitter.com/Hammad_Azhar/status/1242427487025598466?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote>
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<blockquote class="twitter-tweet" data-conversation="none" data-lang="en"><p lang="en" dir="ltr">Petrol, Diesel prices shall be reduced by Rs 15/litre. <br>1 crore 20 lac individuals will receive Rs 3000 for 4 months. <br>Rs 50 billion have been set aside for utility store corporation. <br>Concessional loans to SME and agriculture sector. <br>Taxes cut on essential commodities and more.</p>— Hammad Azhar (@Hammad_Azhar) <a href="https://twitter.com/Hammad_Azhar/status/1242429413410701313?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote>
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<blockquote class="twitter-tweet" data-conversation="none" data-lang="en"><p lang="en" dir="ltr">Power bills for current month for those consuming 300 units or less (70% of consumers) will be converted to instalments spread over 3 months. <br>Gas bills for 80% consumers for current month will also be spread over a period of 3 months.</p>— Hammad Azhar (@Hammad_Azhar) <a href="https://twitter.com/Hammad_Azhar/status/1242430568597520384?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote>
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<blockquote class="twitter-tweet" data-conversation="none" data-lang="en"><p lang="en" dir="ltr">SMEs, Industry and Agriculture will see deferment of loans (principal and interest), the govt will also provide risk gurantee to banks for fresh loans to SMEs. <br>An emergency fund of Rs 100 billion will be maintained, NDMA to receive Rs 25 billion for covid-19 responses.</p>— Hammad Azhar (@Hammad_Azhar) <a href="https://twitter.com/Hammad_Azhar/status/1242432746162663424?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote>
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[Abdullah719]

Govt will use reservoir to ensure supply of wheat; price of pulses will be reduced by Rs30-40

Minister for National Food Security and Research Khusro Bakhtiar has said that the federal and provincial governments will receive reserve stocks within six weeks which would be used to ensure that there is no disturbance in the supply of wheat throughout the country.

Addressing concerns about food shortage, he said that Pakistan has an adequate amount of pulses for the next two months and prices would be reduced by Rs30-40 in April.

The minister further said that the government has banned the export of onions to ensure there would be no shortage in the country and might consider banning export of potatoes.

Referring to poultry, he said that a problem could arise regarding feeds for poultry but the government has taken steps to help in a package it announced for industries.

Bakhtiar said that the government would be one step ahead of hoarders and would enlist the help of the National Logistics Cell so that food supplies could be distributed wherever needed.

https://www.dawn.com/live-blog/

 

[PetroDollars]

Its a good package but in a lockdown you dont need a cut in oil prices, the market has allready crashed aswell which should cut prices it self, alot of the funds should be sent to people who wont be able to work to pay there house rent, utility bills and food costs, theres nothing else they need.

 

[Hermoine Green]

Our Journalists are more pathetic and worst than Corona virus.

PM was talking about Corona but Journos interest was in Mir Shakeel ur Rehman..

 

[Syed1]

Our Journalists are more pathetic and worst than Corona virus.

PM was talking about Corona but Journos interest was in Mir Shakeel ur Rehman..

Kasam se.... I'm watching the briefing now. Rauf Klasra and Irshad Bhatti's questions were on the media


While Maalik and Nadeem kept questioning on economy and were constantly interrupting PM and finance minister when they were trying to answer.


The journalist Imran Khan's question was on if the PM is in command or not.




The briefing was supposed to be on corona

 

[Syed1]

Interest rate cut by 1.5%, this is on top of the 0.75% cut last week.


<blockquote class="twitter-tweet"><p lang="en" dir="ltr">1/ MPC has decided to cut the policy rate by a further 150 basis points to 11 percent.<br>It noted considerable uncertainty about how the Coronavirus outbreak would impact the global economy and Pakistan.</p>— SBP (@StateBank_Pak) <a href="https://twitter.com/StateBank_Pak/status/1242445289233014785?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>


I think this gives the government a fiscal space of a further Rs. 1000b

 

[Syed1]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I have worked with many politicians. I have seen people stretching their limits of tolerance. But i have never seen a PM refusing to be provoked by a sahafi (who once served as MD-PTV and claims to be a senior sahafi) when he said "mein aap ka graibaan pakron ga ya kis ka".<br>1/2</p>— Sarfraz Hussain (@Sarfraz5678) <a href="https://twitter.com/Sarfraz5678/status/1242454918381948937?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>


<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Showing disrespect to Prime Minister of the country is not azaadi-e-sahafat. It reflects mannerism. I am sorry. 2/2</p>— Sarfraz Hussain (@Sarfraz5678) <a href="https://twitter.com/Sarfraz5678/status/1242455484323463168?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>



Then these sc*ms talk about azaadi-e-sahafat....

 

[the Great Khan]

Its a good package but in a lockdown you dont need a cut in oil prices, the market has allready crashed aswell which should cut prices it self, alot of the funds should be sent to people who wont be able to work to pay there house rent, utility bills and food costs, theres nothing else they need.

Fuel is used by logistic suppliers who use much more than the average joe. Any price cut will enable the continued supply of necessary goods.

The govt is trying and we should support them. At least IK is not hiding from scrutiny..he is showing leadership..unlike others who go to LUMs and have set questions prepared for them, or play politics during emergencies..

 

[the Great Khan]

Love his answer to Rauf Klasra. That should shut up quite a few individuals raising nonsense about Bukhari and the taftan border.

Interesting fact, Italy got its first case on the 8th of Feb, Pakistan its first in 25th Feb. 6 deaths in pakistan and thousands in Italy. Now this may change and probably will but nobody can deny that Pakistan has managed to buy itself some time..

 

[the Great Khan]

Good question regarding curfew and Lockdown. IK clarifying what may happen in a few weeks time.

 

[King-Misbah]

Pakistan is lucky to have such a PM who is sympathetic towards his people. May Allah SWT bless Pakistan and IK.

 

[Syed1]

Good question regarding curfew and Lockdown. IK clarifying what may happen in a few weeks time.

Wait till you get to Maalik's questions.... it will really have your blood boiling.

 

[AamchiMumbaikar]

Good package ... Hopefully Pak recovers soon.

 

[Bewal Express]

Our Journalists are more pathetic and worst than Corona virus.

PM was talking about Corona but Journos interest was in Mir Shakeel ur Rehman..

These born har*** are the enemy of PK. The veneer of caring for PK and its people came off very quickly today. Each and every day these crooked, badniyaat, agenda driven losers are being exposed every day.

 

[Bewal Express]

Can anyone imagine the likes of NS,SS, Billo etc sitting with journalists most of whom are so desperate for you to fail and want the lives to be lost, so that their masters can get off from paying back their stolen billions. Complete Haraamis

 

[srh]

Fuel is used by logistic suppliers who use much more than the average joe. Any price cut will enable the continued supply of necessary goods.

The govt is trying and we should support them. At least IK is not hiding from scrutiny..he is showing leadership..unlike others who go to LUMs and have set questions prepared for them, or play politics during emergencies..

I thought oil prices are free market in Pakistan like other countries so they should have come down automatically without government interference

 

[IMMY69]

I thought oil prices are free market in Pakistan like other countries so they should have come down automatically without government interference

In Pakistan, just like everywhere else in the world, there is duty (tax) added to the price.

 

[srh]

In Pakistan, just like everywhere else in the world, there is duty (tax) added to the price.

I am not talking about taxes, I was talking about the price before tax, the minister is talking about the price and not tax, this is what he said:

Petrol, Diesel prices shall be reduced by Rs 15/litre.

 

[Syed1]

I thought oil prices are free market in Pakistan like other countries so they should have come down automatically without government interference

That is incorrect.... at the end of a 30 day period the government determines the average price of the oil import bill during those 30 days, then it adds the refining costs and taxes and subtracts the subsidy (if there is any) and that is the price set for the next 30 days.

Pakistan buys oil for a supply of 45 days in bulk. So if prices in the international market drop today and remain dropped it will take 45 days for the consumer to see the benefit.

 

[HIC]

And in our country, our PM hasnt given tax cuts, or any other special package specially for daily wage labourers. They are just gonna die due to hunger.

 

[the Great Khan]

Wait till you get to Maalik's questions.... it will really have your blood boiling.

his whole line of questioning was completley irrelevant to the current situation. They were relevant for december or november or for late 2020 not now. IK badly misjudged these guys. I think he thought this presser would help reassure the public but it is having a different effect.

At the same time he dealt with them really well. Like a statesman. I liked his answer to Irshad Bhatti who was really trying to be a smart alec. Also his answer about the Lockdown. Just look at Italy. they are in full Lockdown but 736 more cases in a day for them. Despite that.

What do we do then? People in Pakistan need to wake up. You are still better off than alot of countries. The government has bought you about a month or even two months worth of time by acting quickly. But alas some people will complain. Come to the uk and youll notice the difference. This country is on the verge of becoming a second Italy as its stupid PM dithers and talks about eugenics and herd immunity.

Pakistan has an army, and a civ govt that is working together, CM's that are making the tough decisions and a PM that is genuinley concerned. if only the people complaining would have paid their taxes we may have had a proper health service in place to add to the above.

In the UK we have a great health service but evil stupid morons in charge who are beyond incompetent and think 400k dead is wroth it to save their hides..

 

[the Great Khan]

Can anyone imagine the likes of NS,SS, Billo etc sitting with journalists most of whom are so desperate for you to fail and want the lives to be lost, so that their masters can get off from paying back their stolen billions. Complete Haraamis

Billo rani hasnt had a proper interview with a Maalick or abbasi since he took charge..when has he ever allowed himself to be questioned? never. He see's himslef as being above the people, like a mughal prince.

as for sharif, he would have threatened the journos families if they had done the same to him..hence why none used to.

I remember asking a friend of mine who comes on tv occasionally and has been in govt, why are suddenly so pro Nawaz etc? oh bhai samja kuro, roti paani or zindagi ka be khayal rakhna hay"

 

[Bewal Express]

And in our country, our PM hasnt given tax cuts, or any other special package specially for daily wage labourers. They are just gonna die due to hunger.

The only problem is that hardly anyone pays taxes, where is the money from the tax cuts coming from? And your 2nd point is valid and that's IK made that point

 

[MenInG]

Biggest challenge during lockdown will be to help daily-wage workers, says PM Imran Khan

Prime Minister Imran Khan has said that the biggest challenge during the coronavirus lockdown would be to decide how to help daily-wage workers and people who live in slums.

The premier added that the government will "reassess and discuss and come up with solutions".

Prime Minister Imran Khan has said that the country should not go towards a lockdown due to which the movement of transport vehicles would be stopped.

He added that villagers would suffer [if that happened] as the wheat harvesting season was currently under way.

The premier added that other sectors, including the supply and construction sectors, would also suffer losses.

Prime Minister Imran Khan has said that Pakistan does not have a single coronavirus case which was imported from China.

Addressing a meeting of parliamentary leaders, the premier said that Pakistan's decision to not bring back students from Wuhan — where the virus first emerged — was a "tough but good" decision as not even one Covid-19 case was brought from China.

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[Abdullah719]

Hafeez Sheikh outlines government's economic measures to cope with Covid-19

Adviser to the Prime Minister on Finance Dr Abdul Hafeez Sheikh on Wednesday discussed the measures that the government is taking in order to deal with the economic impact of the Covid-19 pandemic.

Addressing a press conference, Sheikh said that the pandemic is expected to have a negative effect on the country's economy and outlined the various reasons why this would occur.

According to the premier's special adviser:

• Demand for Pakistan's exports will fall as the economies of the countries that it exports to are weakened
• Remittances from expatriates will be affected as countries where they are based, such as Saudi Arabia and the United Arab Emirates, are weakened
• Economic activity in Pakistan will also be reduced which will in turn reduce people's income and taxes
• Sheikh said that in Pakistan, the provinces have a lot of importance but currently both the provinces and the federal government are working together.

"There is an effort to created a united strategy in Pakistan," he said.

The premier shared the key points of the Rs1.25 trillion economic package that had been announced by Prime Minister Imran Khan a day earlier.

• Rs200 billion designated for any labourer who loses his job or sees a reduction in employment opportunities which will be distributed after consultations with the business community and the provinces.
• Rs100bn tax refunds to export industry to provide them liquidity as soon as possible so that their work isn't completely halted.
• Rs100bn to increase the activity and work of small businesses and the agriculture sector. Additionally, will try to reduce the price of fertiliser.
• Those who are affected or economically weak will be given Rs3,000 a month for 4 months; this will cover 12 million families.
• Five basic food items will be sold at lower prices at utility stores; Rs50bn will be given to utility stores for the purpose.
• 8.2million tonnes of wheat will be purchased by the government.
• Petrol, diesel etc prices will be reduced by Rs15 per litre and this value will be maintained.
• Lower electricity and gas consumers will be given time for payments.
• Additional Rs50bn for health workers' equipment, uniforms and protection.
• Taxes on food products will either be completely removed or will be largely reduced.
• Rs50bn for National Disaster Management Authority (NDMA) ; further will be given if they require.
• Rs100bn fund for other demands of the business community.
• Financial monetary stimulus will also be given. Two big decisions in this regard are the reduction in the policy rate and if principle and interest are both due, then the business sector will be given three to six months to return it.

https://www.dawn.com/news/1543650

 

[MenInG]

Minister for Planning, Development and Special Initiatives Asad Umar said on Tuesday that it is important for the government to strike a balance between preventing the spread of the coronavirus and keeping the economy running.

He made these remarks during a joint press conference with Federal Minister for Economic Affairs Hammad Azhar and Special Assistant to the Prime Minister on Health Dr Zafar Mirza in Islamabad.

"In a country like Pakistan, if we say we won't have a lockdown at all, the disease will spread very fast and people will start losing jobs because they will be too sick [...] there is no country in the world that would say it is not going to enforce a lockdown," he reasoned.

"But if you enforce too strict a lockdown, people won't get food and then there is no way they will not come out on the streets and our efforts to control the spread will fail," he added.

The minister added that the government had formed a National Command Centre which would start functioning from today. Representatives from all the departments working to combat the Covid-19 pandemic and from all the provinces have been included in the command centre, he said.

"During the last meeting of the National Coordination Committee, we decided to increase cooperation on an operational level to ensure that voices of the provinces are heard at the federal level and federal decisions are easily communicated to the provinces," he said. He added that the National Command Centre would be headed by Lt General Mehmood-uz-Zaman.

Umar said that the government has created a mechanism through the NCC and the National Command Centre to monitor utility stores throughout the country, adding that the government had allocated Rs50 billion to be given to utility stores.

He also said that the government would ensure that some remote areas in the country that previously imported goods from Iran received all the essential items.

'Do not treat coronavirus patients like criminals'

Umar urged the nation to not treat coronavirus patients like "criminals", adding that it would lead to people not reporting symptoms out of fear. He asked the authorities to ensure that it does not happen.

SAPM Mirza also said that reports of patients being criminalised were "extremely saddening". He added that this would scare people and they would not come forward to report cases and thus harm the government's efforts to stop the spread of the virus.

'Have to ensure production of essential items continues'

Meanwhile, Hammad Azhar said that it was important to continue production of essential items and to keep such industries and their value-chain industries running.

Federal Minister for Economic Affairs Hammad Azhar said that there was no need for hoarding and panic-buying. —DawnNewsTV
"We have made lists of retailers, manufacturers and industries that produce these items. We have distributed these lists to provinces (which were compiled with their help) ... that these industries need to continue production, and we need to ensure that raw material and the labour needed are given to them."

Adding that there was no need for hoarding and panic-buying, he said that the government was working day and night to ensure that the demand for essential items could be met.

Azhar said the Cabinet had approved an Economic Stimulus and Relief Package which had already been approved by the Economic Coordination Committee a day earlier.

The package included:

Rs200bn for daily-wagers
Arrangements to delay interest payments on loans by six months for industries
Increased quota of deserving people
Rs50bn for utility stores
Reduced petrol and diesel prices
Increased number of labs and testing kits

Umar also said that the number of labs that could carry out tests for coronavirus had increased from 13 to 30 and would increase to 32 in the coming days. He added that the current testing capacity was 280,000 which was expected to increase to 900,000 by April 15.

SAPM Mirza added that the government would also acquire a synthesiser in a few weeks which would enable the country to start producing testing kits on its own.

Saying it was the responsibility of the nation to defend its medical staff, Umar added the National Disaster Management Authority had distributed 16,700 personal protective equipment (PPE) to hospitals in every province of the country and it aimed to get PPE to doctors all across Pakistan by April 5.

Referring to the striking of balance between preventing the spread of the coronavirus and ensuring the continued production of essential items, Mirza said that the government would issue two sets of guidelines — for the people who would work in those industries and the people who would go out to buy essential items on its website on Wednesday.

Mirza added that there had been a big increase in the number of suspected patients in the last 24 hours and urged people to follow the preventive measures announced by the government to stop the spread of the disease.

https://www.dawn.com/news/1545305/i...f-covid-19-and-keep-economy-running-asad-umar

 

[Abdullah719]

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">I feel that this is not fair as it was a business decision which did not work out. It was also discussed at highest level & my views were supported. It has therefore been decided that Govt. will not compensate these firms from tax payers’ money. 2/2<a href="https://twitter.com/ansukhera?ref_src=twsrc%5Etfw">@ansukhera</a> <a href="https://twitter.com/aliya_hamza?ref_src=twsrc%5Etfw">@aliya_hamza</a></p>— Abdul Razak Dawood (@razak_dawood) <a href="https://twitter.com/razak_dawood/status/1245253756100493314?ref_src=twsrc%5Etfw">April 1, 2020</a></blockquote>
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[amvbfm]

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">I feel that this is not fair as it was a business decision which did not work out. It was also discussed at highest level & my views were supported. It has therefore been decided that Govt. will not compensate these firms from tax payers’ money. 2/2<a href="https://twitter.com/ansukhera?ref_src=twsrc%5Etfw">@ansukhera</a> <a href="https://twitter.com/aliya_hamza?ref_src=twsrc%5Etfw">@aliya_hamza</a></p>— Abdul Razak Dawood (@razak_dawood) <a href="https://twitter.com/razak_dawood/status/1245253756100493314?ref_src=twsrc%5Etfw">April 1, 2020</a></blockquote>
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Blackmailing shoroo.

I really can't understand why this point was even discussed by the government at the "highest level"? Tomorrow if I make a speculative bet and then lose my job, would the government cover the losses on my gamble?

And this is just the start. Many more businesses will try to use the present situation to blackmail the government. Very important that the government doesn't yield to such bogus demands at the expense of the taxpayers and the common people.

 

[MenInG]

ISLAMABAD: Prime Minister Imran Khan said on Wednesday that the Pakistanis have always fought unitedly in a difficult time and the nation will also win the war against the coronavirus pandemic, ARY News reported.

PM Imran Khan, while participating in the ARY Digital Network’s telethon for COVID-19 donations, reiterated that the federal government announced the country’s biggest-ever $8 billion worth relief package for the nationals to fight the pandemic.

 

[Savak]

Lol, people didn't bother to donate for the dams. What makes him think people will want to donate the same amount for the Corona virus?

 

[Bewal Express]

Lol, people didn't bother to donate for the dams. What makes him think people will want to donate the same amount for the Corona virus?

12bn was raised, not bad.

 

[Abdullah719]

Govt will announce relief package for construction industry tomorrow: PM Imran

Prime Minister Imran Khan on Thursday said the federal government will announce a relief package for the construction industry on Friday to maintain economic activity in the country.

During a tax-refund cheque distribution ceremony in Islamabad, PM Imran said a balance has to be created which benefits the economy and limits the spread of the deadly pathogen.

He added that the relief package will also support the uplift of other industries allied with the construction sector.
“The construction of road infrastructure does not entail the danger of the spread of coronavirus,” said PM Imran. “Whichever industry that helps run the construction industry will be given instructions and conditions under which they can operate.”

He further said necessary SOPs will also be developed to ensure the safety of the workers.

The premier congratulated the commerce ministry, which framed the distribution policy of the multi-billion rupee package and compiled a list of industries which can be operated during the current situation.

“We have promoted the industries and incentivised the businesses. We have to create an environment that was present in the 1960s,” he said. “And this tax-refund is part of that incentive so that businesses have liquidity.”

PM Imran also expressed his satisfaction at the current trend of the spread of the virus, reiterating that it is a blessing from God that the deadly contagion has not affected Pakistan like it has other countries around the world.

“Our weaker segments of the society are at greater risk owing to the pandemic,” the PM said. “We are trying to reach out to them under the Ehsaas Program. A cash grant of Rs12,000 each will be given to 12 million poor families to protect them from the negative impacts of coronavirus.”

The premier further said the govt has earmarked Rs200 billion for the procurement of wheat in order to support the agriculture sector and the farmers.

https://tribune.com.pk/story/218935...kage-construction-industry-tomorrow-pm-imran/

 

[Abdullah719]

PM Imran announces incentives for construction sector, elevates it to industry

Prime Minister Imran Khan on Friday elevated the status of the construction sector to that of an industry while announcing incentives for investors and businessmen as the government tries to mitigate the economic impact of the coronavirus outbreak.

While speaking to journalists, the premier said that a board will also be formed to address all issues and matters related to the industry. He added that all industries that are connected to construction will continue to function even during the lockdown.

He said that the reason he was paying attention to the construction sector was that it generated jobs for daily wage workers, many of whom have lost their income due to the ongoing lockdown.

The main incentives announced by the premier include:

• All the people investing in the construction sector this year will not be questioned about their source of income.
• The tax rate will be fixed for the construction sector, and constructors will be charged tax per square foot or square yard.
• People carrying out construction in the Naya Pakistan Housing Scheme for the poor will only have to pay 10 per cent of the fixed tax.
• Withholding tax will be waived off for all construction sectors except the formal sectors of steel and cement.
• Sales tax will be reduced in coordination with provinces.
• Any family selling their house will not have to pay any capital gains tax.
• A subsidy of Rs30 billion to be given for the Naya Pakistan Housing Scheme.
• Construction sector to be given the status of an industry.
• Construction Industry Development Board to be set up to support the sector.

The prime minister said that the government aimed to "find a balance" between continuing a lockdown and avoiding unemployment.

He said that the Western countries were facing the coronavirus on one hand and economic fallout on the other.

But "in Pakistan, we have corona on one hand and poverty on the other," he told reporters and added: "You cannot lock up 220 million people."

The premier expressed concerns that if the lockdown continued for a long time, people would become "desperate and come out on the streets. Not only would that lead to a spike in infection rate but also worsen the economic situation."

"We have a challenge on our hands," he said while responding to a question. "There is corona on one side and hunger on the other. How can we tell a person who is hungry to stay inside?"

Prime Minister Imran said that Brazil's President Jair Bolsonaro has also raised similar concerns regarding a lockdown.

He further said that the two-month-long lockdown had worked in Wuhan — believed to be the epicentre of Covid-19 — because the Chinese government delivered food to people in their homes.

He also shone a light on the government's efforts to provide relief to those who have been affected by the lockdown, saying that thousands of people — who are not already covered by Ehsaas Kafalat programme — had already sent Short Messaging Service (SMS) to designated numbers. The data of the people was being checked with NADRA, the premier said, adding that the government had shortlisted only those people who belonged to the "weakest sector" of the society.

"We are using all our government's resources to fight against corona," he said.

Furthermore, for people who have lost jobs or are earning less due to the lockdown, the government has allocated Rs200 billion to provide relief, the prime minister's aide Hafeez Sheikh told the media. He added that for people who could not afford to pay bills, the connections for gas, water or power will not be disconnected for the next three months.

The prime minister also warned people against taking the virus lightly.

"I have come across posts on social media where people claim that Pakistanis have some sort of immunity against the coronavirus and that is why we have few deaths. I want to say that this is very dangerous. No one can say how fast this virus will spread.

"Even this mindset is dangerous. [The virus] definitely poses a threat to us and we need to take all precautions."

He pointed out that bans on weddings and other gatherings were still in place.

https://www.dawn.com/news/1546154/p...r-construction-sector-elevates-it-to-industry

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[MenInG]

Truck carrying food for daily wagers looted in Hyderabad

A truck laden with some 400 bags of food items meant for distribution among daily wage earners was looted in Hyderabad's Hussainabad area.

SSP Hyderabad Adeel Chandio said that the police had not been informed about the delivery by officials from the district administration otherwise they would have provided security.

He added that the truck was carrying some 400 bags worth Rs1,600 each. "We are trying to locate the truck," he said.

 

[King-Misbah]

Truck carrying food for daily wagers looted in Hyderabad

A truck laden with some 400 bags of food items meant for distribution among daily wage earners was looted in Hyderabad's Hussainabad area.

SSP Hyderabad Adeel Chandio said that the police had not been informed about the delivery by officials from the district administration otherwise they would have provided security.

He added that the truck was carrying some 400 bags worth Rs1,600 each. "We are trying to locate the truck," he said.

The looters should be hanged when found.

 

[MenInG]

The looters should be hanged when found.

Problem is people are desperate. They probably think its the last time they will get food.

 

[pakistanisgreat]

Problem is people are desperate. They probably think its the last time they will get food.

yes my family members gave good to some poor familes. later found their men who never worked in life, pretending on street like they lost their jobs and begging food.

 

[Syed1]

Rs 12,000 per family being released to 10.2 million families tomorrow. With average family size of 5, this will reach approximately 50 million of the poorest and near-poor people of the country.

 

[Abdullah719]

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Today SBP has announced incentives for businesses as part of our policy of balancing between protecting people through a targeted lockdown & ensuring the vulnerable & needy are provided for. The Ehsaas emergency cash prog is underway & we are seeking to offer business incentives</p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1248983846156218369?ref_src=twsrc%5Etfw">April 11, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<blockquote class="twitter-tweet" data-conversation="none" data-lang="en"><p lang="en" dir="ltr">With tax refunds & opening up the construction sector while keeping agri sector open. SBP's initiatives for businesses during the COVID19 will help keep businesses afloat & prevent massive unemployment. <a href="https://t.co/WW5dBzcHiz">pic.twitter.com/WW5dBzcHiz</a></p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1248983849461256192?ref_src=twsrc%5Etfw">April 11, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Abdullah719]

SBP slashes policy rate by 200 bps to 9pc in third such move in a month

The State Bank of Pakistan in an emergency meeting of the monetary policy committee (MPC) on Thursday slashed the country's policy rate by 200 points to nine per cent, the third time the central bank has reduced the interest rate in less than a month.

The decision was taken "in light of the reduction in growth and inflation" projections released by the International Monetary Fund (IMF) earlier this week, said a statement released by the SBP.

The statement added the committee "remains ready to take whatever further actions become necessary in response to the evolving economic impact of the coronavirus."

The committee noted the impact of the coronavirus pandemic on the global economy, which it said was "expected to enter into the sharpest downturn since the Great Depression".

"The MPC was of the view that this action [cutting policy rate] would cushion the impact of the coronavirus shock on growth and employment, including by easing borrowing costs and the debt service burden of households and firms, while also maintaining financial stability," the statement read.

"It would also help ensure that economic activity is better placed to recover when the pandemic subsides."

Earlier this week, the IMF in its annual World Economic Outlook, had projected Pakistan's economy to shrink by 1.5pc during this fiscal year, compared to 3.3pc growth in 2018-19.

The IMF had also forecast Pakistan’s consumer price index rising by 11.1pc this year before easing to 8pc next year. It also estimated the current account deficit at 1.7pc of GDP in 2019-20 which will increase to 2.4pc next fiscal year.

Moreover, the country’s unemployment rate is projected at 4.5pc in FY20 and 5.1pc the next fiscal year.

The SBP had reduced the policy rate on March 17 for the first time in four years, when it cut rates by 75 bps to 12.50pc citing a declining inflationary pressure and a need to sustain the economy that was hit by the coronavirus crisis.

The central bank had noted that the Covid-19 pandemic precipitated a slowdown in global demand and volatility in world financial markets, as well as a steep fall in oil prices.

“Since this disease has spread, it has started impacting our economy,” SBP Governor Reza Baqir had said at the time. The bank's earlier projection of 3.5pc growth for the ongoing fiscal year had slid to 3pc, he had added.

Exactly one week later, the central bank again slashed rates by 150 basis points to 11pc on March 24, saying "substantial new information on global and domestic developments" showed the pandemic had caused major disruptions to economic activity and the IMF had also significantly downgraded its global growth outlook for 2020 from 3.3 per cent growth previously to below zero.

https://www.dawn.com/news/1549747/s...-200-bps-to-9pc-in-third-such-move-in-a-month

 

[Abdullah719]

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Federal Cabinet approves relief package of worth Rs75b for daily wagers,who lost their jobs due to coronavirus pandemic<a href="https://twitter.com/ImranKhanPTI?ref_src=twsrc%5Etfw">@ImranKhanPTI</a> <a href="https://twitter.com/PakPMO?ref_src=twsrc%5Etfw">@PakPMO</a> <a href="https://twitter.com/PTIofficial?ref_src=twsrc%5Etfw">@PTIofficial</a> <a href="https://twitter.com/MoIB_Official?ref_src=twsrc%5Etfw">@MoIB_Official</a> <a href="https://twitter.com/demp_gov?ref_src=twsrc%5Etfw">@demp_gov</a> <a href="https://t.co/rRR2cDkNPh">https://t.co/rRR2cDkNPh</a> <a href="https://t.co/w2o9D1kalK">pic.twitter.com/w2o9D1kalK</a></p>— Radio Pakistan (@RadioPakistan) <a href="https://twitter.com/RadioPakistan/status/1255071737152188416?ref_src=twsrc%5Etfw">April 28, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Abdullah719]

Move to cut petrol price by over Rs20 per litre

ISLAMABAD: The prices of petroleum products in Pakistan are set for a steep fall — up to 57 per cent — on Thursday (today) for a month owing to about 30pc slump in the international oil market.

Though a decision would be announced in consultation with the International Monetary Fund (IMF) on Thursday, the Oil and Gas Regulatory Authority (Ogra) has worked out up to 57pc cut in various products’ prices with effect from May 1 based on existing tax rates.

At present benchmark Brent crude prices have plunged by a massive 30pc to $20 a barrel from about $27 per barrel on March 25 when Pakistan last revised oil prices. The Brent crude price has tumbled by almost 65pc since February 25. This is the steepest fall in oil prices in recent history.

An official told Dawn that based on existing tax rates, Ogra had calculated about Rs33.94 and Rs20.68 per litre reduction in the prices of high speed diesel (HSD) and petrol, respectively.

Spoiler

Oil prices to be reduced because of slump in international market

In contrast, he said, the Ministry of Finance and the Federal Board of Revenue (FBR) were trying their best to pass on about half of the price reduction calculated by Ogra to consumers and retain the remaining amount as windfall by increasing the rates of petroleum levy.

He said the finance ministry wanted to make up for revenue losses arising out of lower import parity price for crude and petroleum products and lower consumption due to the lockdown and the overall revenue shortfall it had faced in the first 10 months of the current fiscal.

The Ogra summary of workings on oil pricing seen by Dawn has proposed about 31.6pc reduction in the price of HSD. It has worked out the ex-depot price of HSD for next month at Rs73.31 from Rs107.25 at present, down Rs33.94 per litre.

Likewise, Ogra has calculated the ex-depot price of petrol for next month at Rs75.90 per litre instead of Rs96.58 at present, a reduction of 21.4pc or Rs20.68 per litre.

Similarly, the ex-depot price of kerosene has been worked out at Rs33.38 per litre instead of current rate of Rs77.45, showing a massive reduction of 56.9pc or Rs44.07 per litre.

Also, the ex-depot price of light diesel oil (LDO) has been estimated for next month at Rs37.94 per litre instead of Rs62.51 at present, a 39.3pc or Rs24.57 per litre cut.

The official said the prime minister had been told that reduction in HSD price would be great support to the agriculture sector, currently at the peak of wheat harvest, and help pull down the rate of inflation because it was the primary source of transportation in the country.

The government has already increased the general sales tax (GST) on all petroleum products to a standard rate of 17pc across the board to generate additional revenues.

Until January last year, the government was charging 0.5pc GST on LDO, 2pc on kerosene, 8pc on petrol and 13pc on HSD.

Besides the 17pc GST, the government has more than tripled the rate of petroleum levy on HSD in recent months to Rs24.20 per litre from Rs8 per litre. The levy on petrol has also been almost doubled to Rs18.90 per litre instead of Rs10 per litre. The petroleum levy on kerosene and LDO remains unchanged at Rs6 and Rs3 per litre, respectively.

Over the last many months, the government had been increasing petroleum levy rates to partially recoup a major revenue shortfall faced by the FBR. The levy remains in the federal kitty unlike GST that goes to the divisible pool taxes and thus about 57pc cent share is obtained by the provinces.

Petrol and HSD are two major products that generate most of revenue for the government because of their massive and growing consumption in the country.

Average petrol sales are touching 700,000 tonnes per month against monthly consumption of around 600,000 tonnes of diesel. However, the sales of petrol have dropped in recent weeks due to the lockdown imposed in the country in the wake of the coronavirus pandemic. The diesel consumption has also dropped after the lockdown but has since picked up owing to wheat harvest. The sales of kerosene and LDO are generally less than 11,000 and 2000 tonnes per month, respectively.

Last month the international oil prices had dropped by almost 52pc but the government had reduced the local prices by 12-13pc to make up for the revenue loss.

https://www.dawn.com/news/1553369/move-to-cut-petrol-price-by-over-rs20-per-litre

 

[MenInG]

Govt slashes petrol price by Rs15 to 'provide relief to consumers'

The government has announced a reduction of Rs15 per litre in the price of petrol, of Rs27.15 per litre in the price of high speed diesel (HSD), Rs30.01 per litre in the price of kerosene and of Rs15 per litre in the price of light diesel oil (LDO).

According to a notification issued by the Ministry of Finance, the government made the decision to slash prices of petroleum products to "provide relief to consumers" amid the coronavirus crisis.

 

[Abdullah719]

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">More than 80% of commercial and industrial meters shall be benefitting from:<br><br>'PM's Chotta Karobaar Imdaadi Scheme'<br><br>Through this scheme, the Federal Govt will be paying the electricity bills of 35 lac small businesses across the country for 3 months.</p>— Hammad Azhar (@Hammad_Azhar) <a href="https://twitter.com/Hammad_Azhar/status/1257702493615685634?ref_src=twsrc%5Etfw">May 5, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Syed1]

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">More than 80% of commercial and industrial meters shall be benefitting from:<br><br>'PM's Chotta Karobaar Imdaadi Scheme'<br><br>Through this scheme, the Federal Govt will be paying the electricity bills of 35 lac small businesses across the country for 3 months.</p>— Hammad Azhar (@Hammad_Azhar) <a href="https://twitter.com/Hammad_Azhar/status/1257702493615685634?ref_src=twsrc%5Etfw">May 5, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Generally governments give incentives through tax breaks but majority of our SMEs are in the informal sector or outside of the tax net. Therefore, giving incentives through utility bills is a supremely innovative and impressive method. I have been very impressed with Hammad Azhar, he has all the ingredients to be a future PM, but he is to sharif and a straight talker, Pakistanis generally don't like such people in leadership roles.

 

[Abdullah719]

ECC allocates Rs75bn for labourers, daily wage earners

Spoiler

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Friday set aside Rs75 billion for distribution among labourers and daily wage earners through the Benazir Income Support Programme (BISP).

This is part of the Prime Minister’s Relief Package of Rs200bn for labourers and daily wage earners that was earlier to be coordinated by the Ministry of Industries and Production and Commerce through industries and business houses for not laying off workers.

A meeting of the ECC, presided over by Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh, also approved the mechanism for the Emergency Cash Assistance (Criteria and Mechanism) to workers whose livelihoods have been affected by the Covid-19 pandemic.

Modalities of the disbursement were worked out by Finance Division, Poverty Alleviation Division and the BISP. The BISP board has approved that in order to identify beneficiaries for the Ehsaas Labour (Category-IV) the eligibility criteria used for Category–III of Ehsaas Emergency Cash would be used. The verification process would be based on BISP’s survey record and national registration data of Nadra.

The applications will be received only through Ehsaas Labour portal for inclusion of beneficiaries in Category-IV. The cash disbursement of Rs12000 (one-time assistance) will be made to eligible applicants through existing payment mechanism of the BISP. The four provinces, AJK, GB and ICT will be allocated the quota in Ehsaas Labour assistance in accordance with their population.

On May 3, the prime minister had announced that funds collected through Covid-19 Pandemic Relief Assistance Fund 2020 would be used to assist the labourers and daily wage workers whose livelihoods had been badly hit by the lockdown.

On that occasion, the prime minister also announced that funds would be disbursed through the Ehsaas Emergency Cash Programme. The prime minister also announced that for every rupee donated, the government would match Rs4 in the fund. The budget envelope of Rs75 billion released to BISP out of Rs200 billion earmarked in the PM’s relief package for distribution among workers in the country would be used for the purpose, the finance ministry said.

https://www.dawn.com/news/1557433/ecc-allocates-rs75bn-for-labourers-daily-wage-earners

 

[Syed1]

Spectacular

<blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/PTI?src=hash&ref_src=twsrc%5Etfw">#PTI</a> Govt performing. <a href="https://twitter.com/hashtag/PMImranKhan?src=hash&ref_src=twsrc%5Etfw">#PMImranKhan</a> working for the people of Pakistan <a href="https://t.co/wip2jy2fQk">https://t.co/wip2jy2fQk</a></p>— Omar Ayub Khan (@OmarAyubKhan) <a href="https://twitter.com/OmarAyubKhan/status/1261591070267387904?ref_src=twsrc%5Etfw">May 16, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[MenInG]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">We have further reduced petrol, light diesel oil, kerosine oil prices. Now we have the cheapest fuel cost compared to other states in South Asia. India is almost exactly double. Bangladesh, Sri Lanka & Nepal are all 50 to 75 percent more expensive than us. <a href="https://t.co/oD9wVMcZno">pic.twitter.com/oD9wVMcZno</a></p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1267150510848724994?ref_src=twsrc%5Etfw">May 31, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[MenInG]

Prime Minister Imran on Wednesday took notice of the price hike in the country despite a massive cut in the petroleum products and directed the officials to ensure that the impact of the reduction “must correspondingly reflect” in the prices of essential commodities on daily basis.

He also asked the National Price Monitoring Committee to monitor the prices of essential commodities on a weekly basis as already directed by the federal cabinet and devise a mechanism to bring down the prices of essential commodities.

In a letter addressed to chief ministers and chief secretaries of four provinces and Gilgit Baltistan, and also to his Adviser on Finance and Revenue Dr Abdul Hafeez Sheikh, the prime minister stressed that the benefit of price reduction of fuel be passed on to common man.

“The Prime Minister has desired that the Chief Ministers/Chief Secretaries of the provinces shall personally look into the matter and make every effort to ensure that the impact of the reduction of fuel prices must correspondingly reflect in the prices of essential commodities on daily basis,” an excerpt of the letter read, as shared by PM Media Office.

“The Prime Minister has taken [a] serious view of the fact that while the federal government had reduced POL prices drastically in the past few months, there is no corresponding reduction in the prices of essential commodities rather these are showing [an] upward trend,” it added.

The prime minister mentioned that “there is no logic as to why flour prices should increase when harvesting of the wheat crop has just recently been concluded.”

The government had reduced the price of petrol by Rs7.06 per litre for the month of June, with the new price fixed at Rs74.52.

The price of kerosene has been cut by Rs11.88 per litre and it will now be sold at Rs35.56 per litre. The price of high-speed diesel has been increased by five paisas per litre, marking the new price at Rs80.15 per litre.

Additionally, the price of light diesel oil is fixed at Rs38.14 per litre, which was previously set at Rs47.51 per litre.

A statement by the PM's Office said that Pakistan's fuel is now "the cheapest" in South Asia.

"India is almost exactly double. Bangladesh, Sri Lanka & Nepal are all 50 to 75% more expensive than us," it said.

 

[MenInG]

Petrol prices in the country are expected to increase from December 16, sources informed Geo News on Monday.

Sources said that the Oil and Gas Regulatory Authority (OGRA), in this regard, had sent a summary to the Finance Division.

The price of petrol is expected to rise by Rs5.5 per litre; however, the finance division will make a final decision after Prime Minister Imran Khan's approval.

Read more: Petrol price to remain unchanged till December 15

Last month, the government did not change the petrol prices for the month of December "in its endeavor to provide maximum relief to the public".

 

[Deewana Mastana]

Seems like everyone's crying about how expensive everything has become in Pakistan in the last 2 years since IK and his party came into power for the first time.

Those who live in Pakistan, are things really that bad? Especially now with Covid things are getting worse and will get even more expensive as there are in the rest of the world too.

The reason I feel (I could be wrong) there is more hue and cry in Pak is because 80% of the population is that which suffers due to not having a stable income or means of any income as they are depending on the government for jobs and for them to provide and as they have no qualifications struggle mostly.

 

[Thunderbolt14]

Seems like everyone's crying about how expensive everything has become in Pakistan in the last 2 years since IK and his party came into power for the first time.

Those who live in Pakistan, are things really that bad? Especially now with Covid things are getting worse and will get even more expensive as there are in the rest of the world too.

The reason I feel (I could be wrong) there is more hue and cry in Pak is because 80% of the population is that which suffers due to not having a stable income or means of any income as they are depending on the government for jobs and for them to provide and as they have no qualifications struggle mostly.

Prices have increased a lot. For basic things like atta etc. But truth is, the situation has always been this bad if not for Nawaz Sharif’s subsidies and falsely imposed currency rates which spurred the economy in the short term. You’re not seeing the effects of Imran Khan’s policy making but rather the consequences of the illusion put up previously.

 

[Deewana Mastana]

Prices have increased a lot. For basic things like atta etc. But truth is, the situation has always been this bad if not for Nawaz Sharif’s subsidies and falsely imposed currency rates which spurred the economy in the short term. You’re not seeing the effects of Imran Khan’s policy making but rather the consequences of the illusion put up previously.

So for the common person, has the standard of life got worse or just that there isn't much that they can afford to give to their family?

Have the quality of products for which the prices have gone up or are continusly going up improved from before to justify or its just due to Covid?

 

[watson367]

Seems like everyone's crying about how expensive everything has become in Pakistan in the last 2 years since IK and his party came into power for the first time.

Those who live in Pakistan, are things really that bad? Especially now with Covid things are getting worse and will get even more expensive as there are in the rest of the world too.

The reason I feel (I could be wrong) there is more hue and cry in Pak is because 80% of the population is that which suffers due to not having a stable income or means of any income as they are depending on the government for jobs and for them to provide and as they have no qualifications struggle mostly.

Expenses have risen very sharply but, salaries have remained the same. The most affected are the labor class which makes up a huge chunk of the population, hence the outcry. Common groceries which used to cost 6000 is now 12000+. I dont blame IK for this, the national treasury was empty thanks to the previous shameless government. It will take at least 10 years for us to get back on track if "ok" people stay in power.

 

[watson367]

So for the common person, has the standard of life got worse or just that there isn't much that they can afford to give to their family?

Have the quality of products for which the prices have gone up or are continusly going up improved from before to justify or its just due to Covid?

A lot of lower middle class people have taken on multiple jobs to have the same standard of living. Pakistani people have a lot of will, the reason this country is still functioning is because of our people. Politicians have looted us and left the country. Hopefully, things will change for the better.