PM Sharif increases Ramadan package to $44.8 million amid staggering inflation 

In this handout photo, taken and released by Prime Minister Office, Pakistan Prime Minister Shehbaz Sharif chairs meeting to monitor the rain and flood situation in Khyber Pakhtunkhwa province at the Governor House in Peshawar on March 6, 2024. (Photo courtesy: PMO/File)
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Updated 10 March 2024
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PM Sharif increases Ramadan package to $44.8 million amid staggering inflation 

  • Pakistan’s national, provincial administrations typically announce Ramadan packages before holy month 
  • Utility stores, mobile units to provide food items at lower prices to deserving families, says PM’s Office 

ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday increased the Ramadan relief package to Rs12.5 billion ($44.8 million), his office said, as Islamabad scrambles to provide relief to the masses by lowering the prices of essential items amid staggering inflation. 

Pakistan’s national and provincial administrations typically announce Ramadan packages ahead of the Muslim fasting month to provide relief to the public. These packages mostly reduce prices of essential food items such as flour, sugar, lentils, milk and dates through utility stores and other outlets to ease the burden of increased food consumption during Ramadan. 

They also include special Ramadan bazaars to help low- and middle-income families access other necessities. 

On Thursday, Sharif unveiled a Rs7.5 billion ($26.8 million) Ramadan relief package for the masses ahead of the holy month, during which millions of Muslims all over the world fast from dawn till sunset. 

“The prime minister has increased the volume of Ramadan relief package from Rs7.5 billion to Rs12.5 billion,” the PMO said. 

“Apart from increasing the volume of the package, he has also directed for its scope to be enhanced.”

The PMO said utility stores, Benazir Income Support Program (BISP) and mobile units will provide food items at low prices under the package to deserving families in Pakistan.

Sharif directed authorities to deliver food packages to as many poor people as possible.

“From the first of Ramadan till its end, food items will be provided at lower rates compared to the markets,” the PMO said.

Pakistan’s inflation rate was recorded at 23.1 percent in February, marking its lowest level since June 2022, on an annual basis despite surging food and energy costs, official data revealed this month. 

Pakistan continues to face historically high inflation, though the situation has improved from the all-time high level of 38 percent recorded last year in May.


Pakistan receives $1.2 billion from IMF under EFF, RSF loan programs— central bank

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Pakistan receives $1.2 billion from IMF under EFF, RSF loan programs— central bank

  • IMF Executive Board approved Pakistan’s second review under EFF, first review under RSF loan programs this week 
  • Disbursements from IMF have been crucial for cash-strapped Pakistan as it tries to recover from economic crisis 

ISLAMABAD: Pakistan’s central bank announced on Thursday that it has received $1.2 billion under the International Monetary Fund’s (IMF) External Fund Facility and Resilience and Sustainability Facility (RSF) loan programs. 

The IMF approved a $7 billion bailout package for Pakistan under its EFF program in September 2024 while in May 2025, it approved a separate $1.4 billion loan to Pakistan under its climate resilience fund. The RSF will support Pakistan’s efforts in building economic resilience to climate vulnerabilities and natural disasters. 

The global lender approved Pakistan’s second review under its $7 billion EFF program and first review under the RSF loan on Tuesday. As per the State Bank of Pakistan (SBP), the central bank received a combined sum of $1.2 billion under the EFF and RSF on Dec. 10. 

“The amount would be reflected in SBP’s foreign exchange reserves for the week ending on Dec. 12, 2025,” the SBP said in a statement. 

IMF bailouts have been crucial for cash-strapped Pakistan, which has been struggling with a prolonged economic crisis that has exhausted its financial reserves and weakened its currency. Pakistan came to the brink of a sovereign default in 2023 before a last-gasp IMF bailout package helped it avert the crisis. 

Pakistan has had to take tough decisions to comply with the IMF’s loan requirements, which include scrapping subsidies from food and fuel items to trigger inflation. Since then, Pakistan has attempted to regain stability by sharply reducing inflation and recording a current account surplus. 

The disbursement, however, comes at an important time for the South Asian country as it mitigates losses from a deadly monsoon season that killed over 1,000 people since late June and caused at least $2.9 billion in damages to agriculture and infrastructure.