'Pro-poor social protection initiative' announced in Sindh
Rs34.2b earmarked to support those affected by Covid-19 pandemic
Rs34.2b earmarked to support those affected by Covid-19 pandemic PHOTO: REUTERS/FILE
KARACHI:
The Sindh government has earmarked Rs34.2 billion in the annual budget for the fiscal year 2020-21 to help citizens affected by the Covid-19 pandemic.
Announcing the provincial budget on Wednesday, Sindh Chief Minister Syed Murad Ali Shah said that in order to ensure food security, reduced inflation and unemployment, a social protection and economic sustainability package has been proposed.
Giving the break-up of the package, Shah said that Rs20 billion is proposed for cash transfers to those affected by coronavirus under the Sindh Peoples Support Programme through the Social Protection Strategic Unit (SPSU) and Social Welfare Department (SWD).
Meanwhile, Rs5 billion is allocated for a soft loan programme for small and medium enterprises. "The loan size will range from Rs500,000 to a maximum of Rs2 million," he said, adding that Rs1 billion subsidy will be provided to purchase rice seeds to the farmers with landholding of 25 acres or less.
Sindh slashes development funds by 18.8%
The CM further said that Rs3 billion would be appropriated for a Small Business Support Fund in urban areas through SPSU and SWD, with a maximum loan size of Rs200,000.
Further, he informed, the allocation of Rs2 billion is proposed for small farmers and community-based loans in rural areas under the Poverty Alleviation Programme. Loans of Rs25,000 will be provided using the poverty reduction scorecards of the ongoing poverty reduction programme by utilising the services of the Sindh Rural Support Organisation, National Rural Support Programme, and others through SPSU and SWD, he added.
Moreover, Rs500 million have been set aside to support technology-based startups, incubators, and accelerators, whereas Rs700 million has been earmarked to support information technology (IT) interventions and innovations.
The Sindh government has earmarked Rs34.2 billion in the annual budget for the fiscal year 2020-21 to help citizens affected by the Covid-19 pandemic.
Announcing the provincial budget on Wednesday, Sindh Chief Minister Syed Murad Ali Shah said that in order to ensure food security, reduced inflation and unemployment, a social protection and economic sustainability package has been proposed.
Giving the break-up of the package, Shah said that Rs20 billion is proposed for cash transfers to those affected by coronavirus under the Sindh Peoples Support Programme through the Social Protection Strategic Unit (SPSU) and Social Welfare Department (SWD).
Meanwhile, Rs5 billion is allocated for a soft loan programme for small and medium enterprises. "The loan size will range from Rs500,000 to a maximum of Rs2 million," he said, adding that Rs1 billion subsidy will be provided to purchase rice seeds to the farmers with landholding of 25 acres or less.
Sindh slashes development funds by 18.8%
The CM further said that Rs3 billion would be appropriated for a Small Business Support Fund in urban areas through SPSU and SWD, with a maximum loan size of Rs200,000.
Further, he informed, the allocation of Rs2 billion is proposed for small farmers and community-based loans in rural areas under the Poverty Alleviation Programme. Loans of Rs25,000 will be provided using the poverty reduction scorecards of the ongoing poverty reduction programme by utilising the services of the Sindh Rural Support Organisation, National Rural Support Programme, and others through SPSU and SWD, he added.
Moreover, Rs500 million have been set aside to support technology-based startups, incubators, and accelerators, whereas Rs700 million has been earmarked to support information technology (IT) interventions and innovations.