Pakistan to subsidise 5.8 mn poor householdsJune 1st, 2008 - 2:45 pm ICT by admin
Islamabad, June 1 (IANS) The Pakistani government, with assistance from the World Bank, is to provide “targeted subsidy” to 5.8 million poor households to enable them cope with rising food prices. “The bank is likely to provide funds for 5.8 million households. Of them, one million will also be given training for skill development,” Dawn reported Sunday.
Details of the subsidy would be revealed in the budget for 2008-09 (July 1-June 30) that would be presented to parliament at its session beginning Monday.
The planning division had recommended the payment of Rs.1,200 per month as relief to 5.8 million households in addition to some commodity support.
The Asian Development Bank (ADB) that had disbursed $600 million in May out of its $1 billion assistance lined up for the current calendar year, has also been approached for additional support to help the poorest of the poor.
On their part, the World Bank and the ADB have asked the new government “to avoid unnecessary bank borrowing and cut development and non-development expenditures during the next financial year to contain inflation”, Dawn said.
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