Cabinet waives duty, tax on import of anti-coronavirus items

The Federal Cabinet met on Tuesday in Islamabad and approved exemption of import duty and tax on anti-coronavirus items, reported 24NewsHD TV channel.

Prime Minister Imran Khan chaired the Federal Cabinet meeting where it was decided that the government will issue ordinances to ensure the implementation of anti-coronavirus measures.

The cabinet also gave the approval to extend online visa services to 16 more countries.

The federal cabinet approved the establishment of the Pakistan Medical Authority (PMA), the TV channel reported quoting its sources.

The cabinet also approved the appointment of the National Medical Dental Board.

However, the cabinet deferred the matter regarding notification of Press Council of Pakistan (PCP) and reorganization of Pakistan Television Corporation and Board of Directors of PTV.

The cabinet also endorsed the decisions of the Economic Coordination Committee (ECC) of October 29 and November 4. The Federal Cabinet also put off endorsing the decision of the Cabinet Committee on Law Making on October 21 and November 5.

Information Minister Senator Shibli Faraz briefed the media after the cabinet meeting decisions.

Shibli Faraz said more wheat stock will arrive in Pakistan by February and right now the country has no wheat shortage. “Pakistan will have surplus wheat stock when the second crop of wheat will arrive," Shibli Faraz.

“Sugar is available at Rs 83 per kg at utility stores in Punjab while there are 4.2 million tonnes of wheat reserves in the country,” he said while refuting the claims that there is wheat shortage,” he added.

Pakistan’s Economy

Advisor to Prime Minister Imran Khan on Finance and Revenue Hafeez Shaikh said despite the COVID-19, the government helped the business community and introduced multiple measures for providing relief including debt relief, electricity payment and wheat procurement package along with Ehsaas Emergency Cash Programme.

Hafeez Shaikh said: “Our current account deficit is now in surplus and our primary balance is also positive and the country did not take a loan in the last four months and our foreign loans remained at Rs36.4 trillion from June 30 to October 30.”

“The economy of Pakistan is picking up and large-scale companies are showing growth including cement industry and exports, automobiles, fertilizers and pharmaceuticals,” he added.

The fiscal side of the economy can be found in the figures that FBR collected Rs10,340 billion and economy refunds are Rs128 billion in companion to last year, Hafeez Shaikh said.

“Our primary focus is how we can facilitate the people of Pakistan. We gave a construction package and also introduced the Kamyab Nojawan Program, an increased Public Sector Program for vulnerable areas of the country. We are making policies for enhancing domestic investment in aid to create employment opportunities,” he added.

Hafeez Shaikh said, “Foreign Direct Investment was recorded at $733 million last month and the government introduced a special package to small-medium enterprises (SMEs). The Pakistan Stock Market proved to be a rapidly growing stock market in Asia.”