Iftar Timings Mar 29 - Ramazan 18

Lahore
LHR
06:20 PM
Karachi
KHI
06:47 PM
Islamabad
ISB
06:26 PM
Peshawar
PWR
06:31 PM
Quetta
QTA
06:49 PM

News

Debt relief must for developing world to help them fight pandemic: PM

May 20, 2020 10:04 PM


Prime Minister Imran Khan Wednesday said developing countries need debt relief as they need fiscal space to divert resources to healthcare system to counter the threat posed by the coronavirus pandemic.

Addressing a session of the World Economic Forum via video link Prime Minister said that a lot of the developing world does not have fiscal space to deal with the economic fallout from the Covid-19 outbreak.

"G-20 countries are coming up with a debt relief [initiative] but we need more details. The reason why there should be [such an initiative] is because we need that fiscal space to divert resources to healthcare and the environment."

Prime Minister Khan said the developed world has experienced the Covid-19 pandemic differently as compared to countries in the subcontinent.

"The experience of the developed world is completely different to what we are facing in the developing world. Countries like India, Pakistan, and Bangladesh — specifically the Indian subcontinent — our experience is somewhat different. The speed at which COVID-19 [the disease caused by the novel coronavirus] spread in Europe and the United States, we're not experiencing the same sort of speed. On the other hand, we are still facing rising number of cases and we still haven't reached our peak here" in Pakistan, he added.

"From day one, the difference between, say, what we've seen in Europe and the United States — and, in fact, even in China — is that we had to face this twin challenge: one was to stop [and] stem the growth of the virus, hence, the lockdown.

"But the bigger challenge and increasingly in our country is how to mitigate the effects of lockdown on our population with the rising poverty.

Prime Minister Khan said that millions would have starved if the government had not lifted the lockdown meant to curb the spread of the coronavirus.

"In Pakistan, we have 25 million workers who are either daily-wagers or are self-employed, and these are 25 million families, I'd say it has affected 120-150 million in total. These people are facing stark poverty, and unless these people work, they will starve. So what we did was, and I'm proud of my government for this, was that we started a cash disbursement programme."

However, this was only a short term solution, which is why we decided to ease the lockdown, he said. "There's no way the government can give out handouts to feed people for that long."

 

https://www.youtube.com/watch?v=CQuUzPvvrIE


Most Read

  1. Man murders young sister by smothering her with pillow in Toba Tek Singh Man murders young sister by smothering her with pillow in Toba Tek Singh
  2. Aitchison College students, parents stage protest against principal’s resignation Aitchison College students, parents stage protest against principal’s resignation
  3. Five Chinese among six killed in Shangla suicide bombing Five Chinese among six killed in Shangla suicide bombing
  4. Sahiba meets her father for the first time Sahiba meets her father for the first time
  5. Maaz Safder regrets 4-year relationship with wife Saba Maaz Safder regrets 4-year relationship with wife Saba
  6. ‘Khaie's incredible ending receives rave reviews and big applause ‘Khaie's incredible ending receives rave reviews and big applause

Opinion

  1. IMEC to sabotage CPEC
    IMEC to sabotage CPEC

    By Dr Asif Channer

  2. 1947 TO FORM 47
    1947 TO FORM 47

    By Dr Asif Channer

  3. Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....
    Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....

    By Ali Ramay

  4. Global race: China will reduce its unnecessary expenses
    Global race: China will reduce its unnecessary expenses

    By Ali Ramay

  5. Channer Pir: The Great Saint of Cholistan
    Channer Pir: The Great Saint of Cholistan

    By Dr Asif Channer

  6. Literate the Religious Illiterate
    Literate the Religious Illiterate

    By Dr Asif Channer