*ISLAMABAD: *The federal government, as part of its rescue-cum-economicstimulus package, would soon announce an income support programme as wellas relief in energy prices for both domestic consumers and big businesses.
“The multi-pronged package will be applicable across the country withoutdiscrimination to help industries and businesses stand on their feet andsupport families of those people whose income and livelihood may have beenaffected by the spread of coronavirus,” said a government official.
He stated that the proposals for the package were in their final stages andwould soon be announced by the prime minister.
The proposals include a further cut in key interest rate by the State Bankof Pakistan and instructions to tax authorities to adopt a friendlyapproach with businesses. The diversion of BISP funds to support thosefamilies whose livelihood was at risk due to closure of small businesses,restaurants, retail businesses etc. was also on the cards.
The official further informed about a Power Division’s proposal for therecovery of electricity and gas bills from small businesses in installments.
“We are trying to provide relief in electricity prices to the industry andlarge businesses as a stimulant to economy,” said the official, adding thatthe true picture and cost of the effort was estimated to be huge, given thefact that it was not clear as to how long the coronavirus impact wouldcontinue in the shape of slowdown or shutdowns.
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Adviser to Prime Minister on Finance & Revenue Dr Abdul Hafeez Shaikh andSpecial Assistant to the PM on Social Protection and Poverty Alleviation DrSania Nishthr had on Sunday held consultative sessions to finalise contoursof the special relief package being prepared for the people in the wake ofcoronavirus epidemic.
Different options and proposals as part of the proposed package werediscussed during the meeting.
A Power Division official said that Energy Minister Omar Ayub and PowerSecretary Irfan Ali had shared with the finance ministry their proposedpackage for inclusion in the PM’s rescue and economic stimulus package.This involved a proposal to freeze quarterly tariff adjustments and monthlyfuel price adjustments for up to a year for domestic consumers.
