Fuel prices fall, stipend approved for daily earners as PM Imran unveils Rs1.2tr virus relief package

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Islamabad: Prime Minister Imran Khan on Tuesday announced a financial rescue package worth approximately 1.2 trillion rupees to avoid the negative impact of the corona virus on the country and the economy.

The package includes a reduction of 15 rupees per liter of petrol, diesel and kerosene, approval of a monthly fee of 3,000 rupees for day wage workers and a rescue plan for exporters and industrialists.

In a conversation with a group of journalists, the prime minister also announced tax cuts for bean imports, exempt tariffs on imported palm oil, and reduced collection of petroleum products.

Federal Minister for Economic Affairs Hammad Azhar said when asked about “Brexit”: “We made a total of 1.2 trillion rupees available for bailout programs, as this was not included in the cancellation / Tax cuts by cutting taxes on beans and palm oil. “The exact financial implications of the bailout package announced by the Prime Minister.

Azhar said lowering the oil tax on POL products would cost the government $ 75 million in the next three months. He also claimed that the decision to allow consumers to pay electricity and gas in installments would cost energy companies and gas companies Rs 70 crore and Rs 30 crore respectively.

The prime minister also announced a package of Rs 200 crore for industrial and exporters and said the Federal Reserve Bank was instructed to immediately release an Rs 100 crore tax refund for companies. He added that this would help improve the liquidity crisis for exporters.

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