‘No interest payments from PM relief fund’
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KARACHI: The finance ministry said on Thursday that the Rs10 billion that was being diverted to help make interest payments to the power sector will not come from the Prime Minister Covid Relief Fund but from the fiscal stimulus package totalling Rs1.2 trillion that was announced by the government in the month of March.
“The ECC decision was to allocate Rs10bn towards the interest payment of Rs200bn PES II issued on May 20, 2020, from the fiscal stimulus package of Rs1.2tr,” the statement released on Thursday said. “The government had earmarked Rs100bn for relief on power and gas for the citizens of Pakistan in the fiscal stimulus package.”
Published in Dawn, May 22nd, 2020
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Comments (10) Closed
May 22, 2020 12:40pm
What is the balance in SBP minus the Arab deposits
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May 22, 2020 01:08pm
Money PM relief fund is not reaching the needy but keeps moving from one dept to another, until its pocketed by bureaucrats, politicians and then there will be no summary, no accountability, will end up in a investigation with no out come.
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May 22, 2020 01:12pm
Exactly! Fiscal stimulus was for COVID19 affected economy. Not for interest payments. IK backtracking on his statements again
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May 22, 2020 01:19pm
Why not waiver?
Paying the interests will again get back to the government. The government is clearing the interest on the loans, not the debts which the power sectors which they owe to banks or suppliers of material to generate power. It is clearing it's books. People will not be benefitted
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May 22, 2020 03:30pm
What, if any, is the difference?
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May 22, 2020 03:30pm
Relief fund should be kept aside as no body knows which way pandemic will move presently.
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May 22, 2020 04:36pm
State Bank can print and distribute currency notes at the whims and fancies of the rulers for any amount required.
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May 22, 2020 08:43pm
So easy to fool the Pakistani people. No wonder IK is the prime minister.
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May 23, 2020 12:39am
This means, yes it will be paid from PM relief fund, but you will not know about it
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May 23, 2020 08:48am
Eyewash for the public by playing word games. "Fiscal Stimulus" was also the response to Covid-19 so instead of transparently diverting funds from a specified charity to gov expenditure they are doing it indirectly by cutting gov money to Covid response.
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