The Economic Coordination Committee (ECC) approved the Prime Minister’s Economic Relief Package worth Rs1.2 trillion during a meeting in Islamabad on Monday.

The meeting chaired by Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh approved the Rs1.2 trillion package, which is meant to minimise the impact of the coronavirus outbreak on marginalised segments of the society.

Also, the ECC approved a Supplementary Grant of Rs100 billion for Residual/Emergency Relief Fund under Article 84(a) of the Constitution for provision of funds to people affected by the deadly virus, globally named as COVID-19 and declared a pandemic.

The special package to provide relief to the poor through cash assistance under the Ehsaas Programme was also approved by the ECC. Under the package, 12 million deserving families will receive cash grants under the regular Kifalat Programme and emergency cash assistance on the recommendation of the district administration. The assistance will be provided for four months and it will be just one time dispensation for people other than BISP beneficiaries.

The ECC accorded approval to Rs200 billion cash assistance programme for daily-wage earners working in the formal industrial sector and those laid off as a result of the COVID-19 outbreak.

The meeting approved Rs50 billion for the Utility Stores Corporation to provide essential food items to vulnerable sections of the society at subsidised rates. The ECC also approved R75 billion for the FBR to enable them to payback sales tax and income tax refunds, duty drawbacks and customs duties, which have been due for 10 years.

The forum also allowed cutting taxes and duties on import and supply of different food items to minimise the impact of COVID -19 on different sections of the society. The ECC approved a supplementary grant of Rs6 billion for the Pakistan Railways to meet its expenses.

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