PM Shahbaz Sharif announced Rs2,000 per month subsidy for poor families

Rs 2,000 monthly subsidy will be provided to more than 85 million poor people earning less than Rs 35,000 per month

Prime Minister Shehbaz Sharif on Friday said that the government will include Rs28 billion packages in the upcoming budget to provide relief to the masses. Addressing the nation, the prime minister said that aside from the relief package, the government would immediately announce Rs2, 000 for around 85 million people to help them fight the effects of inflation.

"This is aside from the Benazir Income Support Programme (BISP) monetary assistance that they are already getting. This relief package will be included in the next fiscal budget," the premier said. The premier added that he has directed the Utility Stores Corporation (USC) to provide 10kg of wheat to people for Rs400.

Providing details of why the government hiked prices of petroleum products, the prime minister said the rates of petrol and diesel were skyrocketing across the world.

"From oil-producing countries to developed countries, everyone was gripped with economic turmoil. But for political gains, the previous government announced a petrol subsidy for which there was no room in the national exchequer," the premier said.

But keeping aside our political interests, we took the decision to hike petrol prices and save Pakistan from default. "The decision is the first step towards developing Pakistan."

"We did not agree to the strict conditions laid forth by the IMF; you burdened the masses with heavy inflation, not us; you buried the country under heavy debts, not us; international institutions said that corruption increased during your tenure, not ours; electricity load shedding was brought back during your tenure and you are responsible for the economy's suffering," he said.

He said that over the last four years, Pakistan incurred more than $20,000 billion worth of debt, which was more than 80% of the total loans taken during the history of the country. The Prime minister Shahbaz Sharif also pointed out that Pakistan is facing largest ever budget deficit of Rs 56,000 billion this year.  

The prime minister said the incumbent government was ready to take tough decisions for moving the country towards progress in a bid to end the politics of "incompetency and corruption".

He added that when the new government came into power, inflation was skyrocketing, industries were shutting down, and the US dollar which was at Rs115 in 2018  had reached Rs189.

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