ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday launched a Rs20 billion ($71.4 million) relief package for the Islamic holy month of Ramadan in Pakistan, which aims to benefit 4 million families across the South Asian country.
Fasting during Ramadan is one of the five pillars of Islam, wherein Muslims abstain from food and drink from sunrise till sunset for a month. The holy month begins in Pakistan on Sunday.
While consumer inflation in Pakistan declined to 2.4 percent in Jan., compared to 24 percent in the same period last year, many Pakistanis say they are still feeling the pinch.
The Pakistani government has decided to provide Rs5,000 ($17.87) each to around 4 million families across the country to support them during the month of Ramadan, according to officials.
“It is a great blessing of Almighty Allah that inflation has dropped down in this Ramadan as compared to the last year. This year, around Rs20 billion have been allocated for this package, which would benefit 40 lakh families,” Sharif said at the launching ceremony.
“This would cover the whole of Pakistan, all provinces, Gilgit-Baltistan, Azad Jammu and Kashmir. This amount will be distributed among deserving people in all these areas through the digital [wallet] system.”
The development comes as Pakistan treads a long path to economic recovery after being stabilized under a $7 billion International Monetary Fund (IMF) program secured last year. An IMF mission is due to arrive in Islamabad next week for the first review of the facility.
Pakistan’s consumer inflation is expected to remain stable and maintain a downward trajectory compared to the previous year, the finance ministry said in its monthly economic outlook report on Feb. 27.
Sharif thanked all government institutions, international partners and tech companies for their efforts in distributing the funds among deserving families under the Ramadan relief package.
“All those tech companies, which provided their technical support in implementing this system, I thank them all,” Sharif said.
“I believe there are our foreign partners, also international partners, also sitting here. I would like to also thank them for their cooperation and partnership in this very noble cause.”
Pakistan launches Rs20 billion Ramadan relief package for needy families
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Pakistan launches Rs20 billion Ramadan relief package for needy families
- Development comes amid a decline in consumer inflation in the South Asian country
- But many Pakistanis say they are still feeling the pinch ahead of the start of Ramadan
Pakistan PM to attend World Economic Forum’s annual meeting in Switzerland next month
- The WEF meeting, scheduled to be held in Davos on Jan. 19-23, will focus on global challenges, public-private dialogue and cooperation
- Government, business, civil society and academia leaders will engage in forward-looking discussions to address these issues, set priorities
ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif will travel to Switzerland next month to attend the 56th annual meeting of the World Economic Forum (WEF), Pakistani state media reported on Monday.
The WEF annual meeting, themed as ‘A Spirit of Dialogue,’ will be held from Jan. 19 to Jan. 23 in Davos, where world leaders from government, business, civil society and academia will engage in forward-looking discussions to address global issues and set priorities.
Prime Minister Sharif is expected to interact with global leaders and investors on economic challenges, regional and international issues and various opportunities for cooperation.
On Monday, Deputy PM Ishaq Dar presided over a meeting in Islamabad to oversee preparations for Sharif’s upcoming visit to Switzerland to attend the WEF meeting, the Radio Pakistan broadcaster reported.
“Dar instructed to maximize the engagements with the incoming Heads of States, Governments and senior leadership of economic, business and financial institutions,” the report read.
The WEF meeting program will be structured around key global challenges where public-private dialogue and cooperation, involving all stakeholders, is necessary for progress, according to the WEF website.
In addressing these challenges, growth, resilience and innovation will serve as cross-cutting imperatives, guiding how leaders engage with today’s complexity and pursue tomorrow’s opportunities.
Pakistani foreign ministry officials briefed the deputy PM about preparations for the WEF meeting, according to Radio Pakistan. The participants of Monday’s meeting in Islamabad discussed in detail the bilateral component and media engagements during the visit.
“He [Dar] further stressed that opportunities be explored to foster collaboration with private sector business entities,” the state broadcaster said.
