ISLAMABAD -:Economic Coordination Committee has approved the fiscalstimulus package of 1.2 trillion rupees.
Meeting of the ECC was held in Islamabad on Monday with Adviser to thePrime Minister on Finance Dr. Abdul Hafeez Shaikh in the chair.
ECC approved Supplementary Grant of 100 billion rupees for the”Residual/Emergency Relief Fund” in terms of article 84(a) of theconstitution for provision of funds for mitigating the affect of COVID-19.
The special package for providing relief to the poor through cashassistance under the Ehsaas Program was also approved by the ECC.
The package will provide cash grants to 12 million families under theregular “kifalat program” and emergency cash assistance on therecommendation of the district administration.
The assistance will be provided for four months and besides the BISPbeneficiaries it will be one time dispensation.
ECC accorded approval to 200 billion rupees of cash assistance for thedaily wagers working in the formal industrial sector and who had been laidoff as a result of COVID-19 outbreak.
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The meeting also approved 50 billion rupees for Utility Stores Corporationto provide essential food items to the vulnerable sections of the societyat subsidized rates.
ECC also approved 75 billion rupees for FBR to enable them to payback thesales tax and income tax refunds, duty drawbacks and customs duties whichis due for the last 10 years.
The forum also allowed to reduce different taxes and duties on import andsupply of different food items for alleviating the adverse impact of COVID-19 on different sections of the society.
ECC approved supplementary grant of 6 billion rupees for Pakistan Railwaysto meet its expenses.
