Punjab to loosen purse strings as COVID-19 spreads.

LAHORE -- As the world struggles with the Covid-19 outbreak and the disruption of life, it appears that governments are increasingly concerned about the financial wellbeing of their citizens.

In Punjab, the provincial administration is all set to roll out a relief package to offset the economic impact of the pandemic, which so far has killed more than 44,000 people globally.

According to officials familiar with the development, the chief minister and his immediate coterie are working on a financial relief package of Rs.11 billion.

The funds, according to the officials, will serve as a financial lifeline for the millions of daily wagers, forced to stay at home due to the preventive shut down.

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Many of these workers, one financial expert said, survive on what they earn on a day to day basis. So many of them, he said, work at retail outlets, restaurants, construction sites, and other local businesses.

'The daily wager is struggling during the COVID-19 outbreak. Struggling to survive,' he cautioned.

According to one official, the government plans to spend Rs.50 billion on supporting the daily wagers, low-income families, and those who may have lost their jobs during the health crisis.

As the deadly respiratory disease spreads, experts warn, the pandemic is widening social and economic gaps, which could have consequences for years to come. One economist warned that as the virus spreads, it is setting off a period of new economic inequality.

After a series of meetings, the Punjab administration has informed the federal government about its financial needs. On top of the priority list, one official said, is the financial assistance package for the poor and needy across the province.

'The provincial government has requested for federal assistance,' he said. The funds, he claimed, were to be used to help those suffering financially in Punjab, the second-largest province, and also the worst hit by the virus.

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