ISLAMABAD: The government has released Rs875 billion during the two years – 2019-20 and 2020-21 – from Rs1,240 billion stimulus package announced to provide relief to people and businesses against the corona pandemic.
The details of the amount disbursed under the package released by the Finance Ministry showed the government has so far released Rs875 billion – 70 percent of the total allocation of Rs1,240 billion for Covid package.
Of the total Covid stimulus package, the government has released Rs700 billion in 2019-20 and Rs175 billion in 2020-21, whereas, Rs365 billion are yet to be released.
An amount of Rs875 billion was earmarked as cash releases under corona package and the government has released only Rs510 billion from it with Rs335 billion in 2019-20 and Rs175.1 billion in fiscal year 2020-21.
As per details out of the total Rs200 billion allocated for relief of daily workers, the government disbursed Rs16 billion, and from Rs50 billion for the Utility Stores, the government released Rs10 billion. The government released Rs145 billion to provide relief to vulnerable families and Panagah out of the announced Rs150 billion. Out of the total Rs100 billion announced for the exporters, the government released Rs86 billion, small and medium enterprises were provided Rs50.7 billion against Rs51 billion promised to them as part of the Covid relief, and the agriculture sector was disbursed Rs15.6 billion against the total Rs49 billion announced for them.
The government released Rs60.6 billion from Rs100 billion announced for emergency funds, power and gas subsidy was disbursed Rs56 billion from the Rs100 billion budget, Rs25 billion budget was released for the NDMA, Rs15 billion for tax relief on food, health items were released, Rs70 billion for petrol/diesel relief, and Rs280 billion payment to the farmers was made.
Copyright Business Recorder, 2021