Pakistan seeks more Chinese help to avert COVID-19

ISLAMABAD: Adviser to Prime Minister on Finance and Revenue Abdul Hafeez Shaikh on Tuesday said Pakistan looked forward to Chinese support in dealing with the impacts of the novel coronavirus pandemic.

“Pakistan looks forward to Chinese support in dealing with this unprecedented situation arising because of this pandemic,” he said in a meeting with Ambassador of the People's Republic of China, Yao Jing, who called on the adviser at the Finance Division.

Welcoming the ambassador, Shaikh thanked the Chinese government for all the assistance it has provided so far to Pakistan in dealing with the pandemic.

He then shared the details of the Economic Relief Package given by the government of Pakistan to the people, whose lives and businesses have been affected by the pandemic.

“The government has three major priorities: to provide healthcare and safety to its people, provide cash assistance to the most vulnerable, and keep the wheel of the economy moving in slow but steady pace,” Shaikh said.

The government has came up with a comprehensive relief package of worth Rs1.2 trillion, which inter alia includes, Rs200 billion assistance for workers and labourers, Rs100 billion for supporting SME and agriculture sector, Rs107 billion as sales tax refunds, and Rs50 billion income tax refunds from 2014 onward.

Moreover, Ehsaas Program through its urgent cash disbursement was taking care of the most vulnerable in the country. Reduction in petrol and diesel prices and deferment of payment of bills were some other significant steps.

“Incentivising the construction sector is also an opportunity for those who are in need of work,” the adviser said, while discussing the effect of the virus on the overall growth of the economy of the country.

In light of the recessionary phase in global economies, the adviser said Pakistan’s exports and remittances would both suffer. “Different economies have different levels of strength to deal with the economic losses and the developing countries will be the worst hit by the impact of this slowdown.”