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ECC approves PKR 1.2 trillion stimulus package

Real Estate News
31 Mar 2020
ECC approves PKR 1.2 trillion stimulus package

ECC approves PKR 1.2 trillion stimulus package

Islamabad: The Economic Coordination Committee (ECC) of the Cabinet has approved the fiscal stimulus package worth PKR 1.2 trillion announced by PM Imran Khan in wake of the coronavirus pandemic.

Chaired by the Advisor to the Prime Minister on Finance Dr. Abdul Hafeez Shaikh, the meeting was held to discuss the necessary requirements for different relief measures already announced by the PM for the public due to the ongoing lockdown.

The ECC approved a supplementary grant of Rs100 billion for the residual/emergency relief fund in terms of Article 84(a) of the Constitution for provision of funds for mitigating the effect of the COVID-19.

The special package for providing relief to the poor through cash assistance under the Ehsaas Programme was also approved by the ECC. Under this program, cash grants to 12 million families under the Kafalat Programme would be provided along with emergency cash assistance on the recommendation of the district administration.

The assistance would be provided for four months to besides BISP beneficiaries, it would be one-time dispensation, the meeting was informed.

It was also mentioned during the meeting that the cash would be provided either in one installment of PKR 12,000 through Kafalat partner banks - Bank Alfalah and Habib Bank Limited - after biometric verification or in two installments of PKR 6,000 each.

 
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