Government Presents Rs 1.24 Trillion Incentive Package for SMEs
Islamabad: According to Federal Minister for Finance and Revenue Shaukat Tarin, in order to protect Small & Medium Businesses (SME) from going bankrupt during the COVID-19 pandemic, the government has launched the largest-ever economic stimulus package of Rs. 1.24 trillion.
Read More: CM Inaugurates Development Projects in Dera Ghazi Khan
The finance minister added that Pakistan has restarted its IMF programme and was now struggling to decide how to balance the requirement for fiscal consolidation with the increased demand for economic stimulation during COVID-19 and in the aftermath of COVID.
The Maldives’ finance minister and high-ranking representatives from Mongolia and the Kyrgyz Republic also took part in the meeting. Several delegates emphasized the necessity to create a system to reduce debt as much as possible for emerging and underdeveloped nations who are dealing with budgetary issues and liquidity challenges due to the pandemic.
The workshop came to the conclusion that further regional interaction was necessary in order to benefit from national experiences and more effectively address the difficulties posed by the pandemic.
Read More: Bank Financing to Housing and Construction Crosses Rs 200Bn
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