Muhammad Asad
ISLAMABAD: The government is preparing a program to support the middle class of the society which had been hit by the impacts of the global price hike during recent weeks. It was shared by Finance Minister, Shoukat Tarin during a news conference in Islamabad on Wednesday.
Tarin was of the view that the recent wave of inflation had affected the salaried persons as well as the lower middle and middle class in urban areas and the government is considering a comprehensive program to support the most affected party of society.
Finance Minister said that the COVID-19 pandemic has hit the whole world and the global economy had suffered a lot from its impacts, however, Pakistan was one of the least affected nations because our industry was continuously running during this time.
According to Finance Minister, the country’s economy is taking off during the post-pandemic era and hopefully, it will touch a 5 percent growth rate by the end of the current fiscal year.
Tarin said that the government is disbursing Rs. 1 billion under Kamyab Pakistan Program in the shape of interest-free loans for construction of houses and initiation of businesses, while the allocated amount will be increased during the coming months.
While commenting on rising trends of the national economy, Finance Minister said that country’s exports are likely to touch $ 31 billion coupled with record revenue collection and more than $ 31 billion in foreign remittances during the current fiscal year.
According to Tarin, Pakistan’s export has increased by 25% to 29 percent while IT exports had touched 3.5 billion dollars, which is an encouraging aspect.
While answering a media query, Tarin defended the government’s decision to engage IMF, Tarin said that the government was encountering various financial challenges due to the coronavirus pandemic and therefore it was compelled to reach out International Monetary Fund to get external support to keep the economy moving.
While answering another question, Tarin said that the government is taking measures to mitigate the effects of inflation and providing essential commodities including pulses, ghee, flour, and others at subsidized rates to more than twenty million households under the Ehsaas Rashon Program, he was of the view that after the launch of the new program, the situation will improve substantially.
