Govt considers ‘Lottery Scheme’ to support melting economy of the country
The federal coalition government is considering a proposal put forward by financial experts to launch a monthly ‘Lottery Scheme’ to support the melting economy of the country.
Sources familiar with the matter told that the proposal is one of the many proposals put forward by financial experts that could help the government to save the country from bankruptcy.
The money raised from the lottery scheme will be spent on development projects such as setting up hospitals, training institutes and subsidizing commodities.
Similar schemes are being run successfully in the US, UK, Saudi Arabia and Malaysia.
It is expected that a task force will be formed soon to review the legal aspects of the scheme and its impact on the economy.
Earlier in 1989, the South Asian Federation (SAF) scheme was launched in Islamabad from which a large amount of money was raised but later it was declared un-Islamic and gambling by various religious scholars. The scheme was scrapped after the fatwas.
This time the government will seek the opinion of religious scholars before deciding to introduce the scheme.
Economists believe that the proposal will also address the concerns of the International Monetary Fund (IMF), which believes that citizens should not be given relief through subsidies, as this would be a burden on the national treasury.