Premier Shehbaz to announce ‘relief package’ in maiden address to nation today

Prime Minister Shehbaz Sharif is about to announce a relief package for the financially underprivileged classes in an address to the nation today (Friday).

Sources aware of the matter said that the premier will take the nation into confidence over the recent economic steps of the government.

In addition to announcing the relief plan for the poor, prime minister Shehbaz Sharif will also brief the nation on the government’s next action plan.

Last night, the government announced a massive rise of up to Rs 30 in the prices of petrol for the revival of the IMF’s $6 billion loan program.

Pakistan and the IMF failed to reach a people-level agreement after a week of negotiations because the government was reluctant to pull back the unfunded fuel and energy subsidies.

The IMF had asked Pakistan to move “urgently” for clinching a deal.

Finance Minister Miftah Ismail announced an increase in oil prices after the PM’s nod.

Announcing the decision on Thursday, Miftah said that Rs30’s increase in the price of oil products was a difficult decision for the Prime Minister.

He pledged that the current government would take action to protect the economy.