Advisor to the Prime Minister on Finance Dr Abdul Hafeez Shaikh announced that the government is planning to reduce prices of petroleum products.
The advisor said that before the outbreak of the disease, the local currency had stabilized. However, the pandemic had hit our economy badly,He said that the cost of energy and travel would decrease with the reduced oil prices in the international market and the government would be able to reduce the oil prices further.
The advisor said that the government would give relief and cash liquidity business people and companies to overcome virus-related economic problems.
He said already industries and traders were being facilitated and the tax refunds were being cleared on fast-track basis.
Abdul Hafeez Shaikh said that budget was likely to be announced in June, which would especially support people affected by Covid-19, and special measures would be taken to increase exports.
