Government looking to set up monthly lottery scheme to avert bankruptcy

A news source reported that this was one of the few unique suggestions given by financial experts to help the country avoid bankruptcy.

Government looking to set up monthly lottery scheme to avert bankruptcy

In an attempt to prop up its funds during such desperate times, the government is studying a proposal to launch a monthly lottery scheme.

A news source reported that this was one of the few unique suggestions given by financial experts to help the country avoid bankruptcy. The money generated by lottery schemes will be spent on hospitals, subsiding essential commodities and training institutions. Schemes of similar sorts have been highly successful in the US, the UK, Malaysia and UAE.

Setting up a lottery scheme

In order to examine the legal aspects and monitor the scheme, a task force will be put in place. This task force will also reevaluate the financial impact of the scheme.

A scheme of similar nature was launched back in 1989 South Asian Federation (SAF) Games in Islamabad. Under it, a big sum of money was generated, however, it was later discontinued as many religious scholars termed it un-Islamic, and compared it to the likes of betting and gambling.

Now, the government is also looking to seek input from religious scholars before formally launching the scheme. Financial experts are of the view that this will also tackle the IMF’s concern that relief shouldn’t be given through subsidies to common man as it burdens the exchequer.

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