The International Monetary Fund (IMF) acknowledges the relief package announced by the government of Rs 1.2 trillion relief package announced by the IMF. COVID-19 in Pakistan is spreading like a wildfire and a relief package is the need of the hour.
“COVID-19 has been spreading rapidly in the past month in Pakistan, with 4,489 confirmed cases claiming 63 deaths, as of April 9”, the IMF noted.
The IMF acknowledged the efforts being invested in the federal and provincial levels to prevent the spread of novel coronavirus. These efforts include quarantining thousands of travelers from Iran, putting restrictions on international travels, closing borders, measures taken for social distancing, the lockdown on a city level and across the country.
Pakistan’s military has also been involved in the measures to prevent the spread.
This relief package of 1.2 trillion includes Rs200 billion relief to daily-wage workers, cash transfer worth Rs 150 billion to low-income families, Rs 100bn financial support to small and medium enterprises. More so, the package also gave a 50 billion support to utility stores which are aimed to provide commodities at affordable prices and Rs 25bn has been granted to NDMA for the purchases of essential pieces of equipment.
State Bank of Pakistan has also cut down the policy rate twice in less than two weeks in the month of March.