At a recent meeting, the Economic Coordination Committee (ECC) approved carrying on with the Prime Minister’s Relief Package via Utility Stores Corporation during this fiscal year. Now, the program will be rolled out at revised rates and improved grants that help it cover more impoverished households. Furthermore, ECC granted the warehousing and logistics sector industry status to boost the national economic infrastructure and supply chain efficiency.
Increased Subsidy Amount per Month ECC
The new Prime Minister’s Relief Package has seen a significant rise in monthly subsidies given to deserving families. Earlier, families were getting monthly payments worth PKR 2,734; however. This amount has been raised to PKR 3,650 under the modified package. This means that each family enrolled in BISP will receive an extra sum of PKR 916 per month. Which is part of the Pakistani government’s commitment to better financial assistance for those with few resources.
Relief Packages Funding Allocations ECC
ECC has allocated substantial money to these relief packages. PMRP will be funded with PKR50 billion. And another ten billion rupees will be allocated for RPP. BISP-registered families will benefit from subsidies for five significant commodities, including sugar, cooking oil, flour, rice, and pulses, from June 30th,2024, until July 31st,2025, ensuring continued financial aid to families.
Warehousing & Logistics as an Industry
A notable decision made by ECC was when it agreed in principle to the Ministry of Industries & Production’s request concerning granting industry status to the warehousing and logistics sector. In terms of strategic moves, this one is expected to stimulate investment, improve operational efficiency. And modernize the country’s logistics infrastructure.
The government wants Pakistan’s storage systems, transportation methods. And goods distribution process to improve; thus. It considers warehousing and logistics as one of the industries in Pakistan to enhancee them officially. The decision is believed to create more sophisticated facilities. Contributing to the country’s economic growth and stability. Meanwhile, this industry status would likely pull in new investments, create jobs. And encourage innovations within the sector. Positioning Pakistan as a more competitive player in the global market.
Long-Term Benefits and Economic Impact
The ECC’s actions reveal a government dedicated to alleviating economic hardships faced by vulnerable groups and strengthening critical sectors such as warehousing and logistics. This government wants to ensure that low-income families can afford essential commodities while also improving infrastructure for their distribution, thus moving toward a more resilient and inclusive economy.
