PTI government unveils Rs 200 billion support package
ISLAMABAD: The government has decided to announce a support package of Rs200 billion for exporters in order to enhance the country’s exports, encourage local production and create job opportunities, said Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh.
Addressing a press conference on Monday, the adviser said that the State Bank of Pakistan has decided to increase loans for the exporters by Rs100 billion.
The adviser was flanked by Special Assistant to Prime Minister on Information Dr Firdous Ashiq Awan, Economic Affairs Minister Hammad Azhar and Federal Board of Revenue (FBR) Chairman Shabbar Zaidi.
Hafeez Shaikh informed that the government would allocate additional Rs250 billion to resolve the problem of power sector circular debt. Furthermore, he added, the government would also allocate an additional amount of Rs30 billion for ‘Naya Pakistan Housing Scheme’.
“This amount will be utilised in term of various subsidies to be given to the builders,” he added.
The adviser said the stakeholders involved in the construction sector would be given special tax concessions.
“During the first four months of the current fiscal year, the government has achieved remarkable success on the economic front as the trade deficit has reduced significantly while forex reserves have been moving upwards,” he maintained.
The PM’s aide said after a big gap of five years, the country’s exports have started increasing now by 4pc, adding that FBR tax revenues have also grown by 16pc in four months compared to the same period of last year.