PM announces Rs 1tr relief package to offset slowdown.

ISLAMABAD: Prime Minister Imran Khan Tuesday announced around Rs 1 trillion relief package aimed at providing financial support to different sectors of economy affected by the economic slowdown unleashed by coronavirus pandemic in the country.

During an interaction with media persons, the prime minister said the government has decided to allocate Rs 200 billion for the labour class, which has been hit hard in the difficult times. To help the industrial sector and especially the export sector, it has been decided to release tax refunds amounting to Rs 100 billion, besides deferring of the interest payment to bolster the sector, he revealed.

For the small and medium industry, and agriculture sector, another amount of Rs 100 billion has been set aside with deferred interest payment, the prime minister said, adding that concessional loans will also be extended to the sectors. Other packages, he said, include additional amount of Rs 50 billion for the Utility Stores, Rs 280 billion for wheat procurement, and slashing of petrol and diesel prices by Rs 15 per liter for which the government will have to bear the burden of Rs 75 billion. An amount of Rs 100 billion was allocated...