Financ­e minist­er says these will mitiga­te econom­ic impact of COVID-19LAHORE: Punjab Finance Minister Makhdoom Hashim Jawan Bakht has said that the province is looking to introduce Rs100 billion worth of schemes through the next budget to mitigate the economic impact of Covid-19. He called for reducing fiscal deficit constraints under the International Monetary Fund (IMF) loan programme, adding that Punjab had to provide economic stimulus alongside more spending on health and social protection. Tax packageFollowing in the footprint of the federal government, Punjab has also announced Rs18 billion worth of tax breaks to support provincial businesses. According to Bakht, the provincial authorities are aware of the challenges the crisis poses to individuals, businesses, industries, small and medium enterprises (SMEs) and trade. “We are studying the international response, international practices in these times and putting every possible solution on the table.

Source: The Express Tribune April 14, 2020 03:45 UTC