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Rs28 billion relief package for the poor will be part of next budget, says PM Shehbaz

11:35 PM | 27 May, 2022
Rs28 billion relief package for the poor will be part of next budget, says PM Shehbaz
Source: Radio Pakistan (Twitter)

ISLAMABAD – Pakistani Prime Minister Shehbaz Sharif said on Friday his government would launch a relief package of Rs28 billion per month "to protect the poor from the burden of petrol and diesel price hike".

A day after the PML-N-led government removed fuel subsidies and increased the price of petrol by Rs30 per litre, Sharif said in his first address to the nation it was because of the previous government that he had to take the "difficult decision" to increase fuel prices with a "heavy heart".

Under the relief package, he said, 14 million poor families or 85 million people would get Rs2000 per family.

He said this was in addition to the monetary assistance being given to them under the Benazir Income Support Programme. "This relief package will be added in the next budget," the premier said.

He said he had directed Utility Stores to set the price of 10kg sack of flour at Rs400.

PM Shehbaz said his government's move to increase fuel prices was necessary to save Pakistan from bankruptcy.

Shehbaz termed the PTI government's decision to give fuel subsidy a "trap" for the next government. "Petroleum prices are increasing worldwide but they [PTI government] subsidised fuel despite knowing that the treasury cannot bear its burden," he said.

Also, the premier said the previous government's tenure proved costly for Pakistan on the diplomatic front. In an apparent reference to the United States, he said: "A most trusted friendly country — the one that supported us in all difficult circumstances — was made upset. But we have started the rebuilding process." 

He said the PML-N government reversed all measures taken by the ex-government that curbed the freedom of speech and scrapped a proposal to set up the controversial Pakistan Media Development Authority.

Shehbaz said Pakistan was burdened with Rs20,000 billion debt by the previous rulers and the current fiscal year's budget deficit stood at Rs5,600 billion.

Earlier, Minister for Information and Broadcasting Marriyum Aurangzeb said in a tweet the premier will announce policy decisions of the coalition government on important issues. Pakistan Television will air the address live at 8:00 PM. 

Daily Pakistan Global Web Desk

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Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 25 Feb 2024 forex rates

Pakistani rupee remains stable against US dollar in the open market on February 25, 2024 (Sunday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.5 for buying and 282.55 for selling.

Euro currently stands at 302 for buying and 305 for selling while British Pound rate stands at 352.5 for buying, and 356 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 25 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.5 282.55
Euro EUR 302 305
UK Pound Sterling GBP 352.5 356
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.88 751.88
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.76 36.11
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 908.79 917.79
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 726.53 734.53
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 317.87 320.37
Thai Bhat THB 7.79 7.94

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