The federal cabinet on Tuesday approved a plan to launch three-year sukuk bonds with an ambitious target of generating Rs700 billion.

Sharing the details of the decisions taken by the cabinet, Firdous Ashiq Awan – special assistant to the prime minister – informed a press conference that the bonds would be Sharia compliant.

Firdous said that the government could not do anything alone and the people would have to extend cooperation.

She said the cabinet was briefed on the plan to deliver the monthly stipend of Rs3,000 at the doorsteps of 15 million people families for four months while using biometric verification.

A total of Rs150 billion would be distributed under the Rs1,200 billion package approved by Prime Minister Imran Khan during the meeting, Firdous added.

The special assistant said the Rangers had been ordered to remove all the hurdles to ensure smooth flow of goods, as she cited the problems faced in Sindh.

She said the prime minister wanted to save the economy and the people from the negative effects of coronavirus.

The meeting also decided that every decision taken by the ECC [Economic Coordination Committee] would be approved by the cabinet, she told the journalists.

Firdous said the prime minister directed the concerned quarters to develop a comprehensive labour policy in consultation with the provinces.