Punjab to loosen purse strings as COVID-19 spreads
Provincial government all set to roll out a relief package for those suffering due to the outbreak
PHOTO: FILE
LAHORE:
As the world struggles with the Covid-19 outbreak and the disruption of life, it appears that governments are increasingly concerned about the financial wellbeing of their citizens.
In Punjab, the provincial administration is all set to roll out a relief package to offset the economic impact of the pandemic, which so far has killed more than 44,000 people globally.
According to officials familiar with the development, the chief minister and his immediate coterie are working on a financial relief package of Rs.11 billion.
The funds, according to the officials, will serve as a financial lifeline for the millions of daily wagers, forced to stay at home due to the preventive shut down.
Tales of survivors: ‘Isolation, not coronavirus, was my worst nightmare’
Many of these workers, one financial expert said, survive on what they earn on a day to day basis. So many of them, he said, work at retail outlets, restaurants, construction sites, and other local businesses.
“The daily wager is struggling during the COVID-19 outbreak. Struggling to survive,” he cautioned.
According to one official, the government plans to spend Rs.50 billion on supporting the daily wagers, low-income families, and those who may have lost their jobs during the health crisis.
As the deadly respiratory disease spreads, experts warn, the pandemic is widening social and economic gaps, which could have consequences for years to come. One economist warned that as the virus spreads, it is setting off a period of new economic inequality.
After a series of meetings, the Punjab administration has informed the federal government about its financial needs. On top of the priority list, one official said, is the financial assistance package for the poor and needy across the province.
“The provincial government has requested for federal assistance,” he said. The funds, he claimed, were to be used to help those suffering financially in Punjab, the second-largest province, and also the worst hit by the virus.
The most populous province, health experts, beleive is also the most vulnerable at the moment. With over 750 confirmed cases the province, health experts say is leading the nation-wide count of confirmed cases. “At this rate, Punjab is the most vulnerable province,” said one health expert.
With the provincial government all set to dish out its relief package, officials said, daily wagers from all sectors of the economy will receive support.
In addition to the support for daily wagers, the provincial government is also planning to provide up to Rs.3,000 per household to families that were already below the poverty line.
Army stands by nation to guard border between people and coronavirus: COAS
According to financial experts, who monitor the provincial kitty very closely, it appears the Punjab government itself has been struggling to make ends meet. “The centre owes the Punjab government Rs.120 billion in arrears,” said one expert.
Highlighting another financial setback, the expert said, with reduced revenue collection, like all provinces, Punjab, too, will receive a cut in financial support from the federal government.
Meanwhile, the provincial government is also accepting donations by private citizens to deal with the crisis. The finance ministry has also made a long list of recommendations for the upcoming relief package.
So far, the government has provided Rs. 4,000 to more than two million families across the province. For the distribution of funds, the government used mobile service providers.
Published in The Express Tribune, April 2nd, 2020.
As the world struggles with the Covid-19 outbreak and the disruption of life, it appears that governments are increasingly concerned about the financial wellbeing of their citizens.
In Punjab, the provincial administration is all set to roll out a relief package to offset the economic impact of the pandemic, which so far has killed more than 44,000 people globally.
According to officials familiar with the development, the chief minister and his immediate coterie are working on a financial relief package of Rs.11 billion.
The funds, according to the officials, will serve as a financial lifeline for the millions of daily wagers, forced to stay at home due to the preventive shut down.
Tales of survivors: ‘Isolation, not coronavirus, was my worst nightmare’
Many of these workers, one financial expert said, survive on what they earn on a day to day basis. So many of them, he said, work at retail outlets, restaurants, construction sites, and other local businesses.
“The daily wager is struggling during the COVID-19 outbreak. Struggling to survive,” he cautioned.
According to one official, the government plans to spend Rs.50 billion on supporting the daily wagers, low-income families, and those who may have lost their jobs during the health crisis.
As the deadly respiratory disease spreads, experts warn, the pandemic is widening social and economic gaps, which could have consequences for years to come. One economist warned that as the virus spreads, it is setting off a period of new economic inequality.
After a series of meetings, the Punjab administration has informed the federal government about its financial needs. On top of the priority list, one official said, is the financial assistance package for the poor and needy across the province.
“The provincial government has requested for federal assistance,” he said. The funds, he claimed, were to be used to help those suffering financially in Punjab, the second-largest province, and also the worst hit by the virus.
The most populous province, health experts, beleive is also the most vulnerable at the moment. With over 750 confirmed cases the province, health experts say is leading the nation-wide count of confirmed cases. “At this rate, Punjab is the most vulnerable province,” said one health expert.
With the provincial government all set to dish out its relief package, officials said, daily wagers from all sectors of the economy will receive support.
In addition to the support for daily wagers, the provincial government is also planning to provide up to Rs.3,000 per household to families that were already below the poverty line.
Army stands by nation to guard border between people and coronavirus: COAS
According to financial experts, who monitor the provincial kitty very closely, it appears the Punjab government itself has been struggling to make ends meet. “The centre owes the Punjab government Rs.120 billion in arrears,” said one expert.
Highlighting another financial setback, the expert said, with reduced revenue collection, like all provinces, Punjab, too, will receive a cut in financial support from the federal government.
Meanwhile, the provincial government is also accepting donations by private citizens to deal with the crisis. The finance ministry has also made a long list of recommendations for the upcoming relief package.
So far, the government has provided Rs. 4,000 to more than two million families across the province. For the distribution of funds, the government used mobile service providers.
Published in The Express Tribune, April 2nd, 2020.