The government is considering a proposal to launch a monthly lottery to bolster its treasury at a time of severe financial strain.
Dawn.com reported via sources that the proposal is one of the many ‘out-of-the-box’ suggestions proffered by financial experts to help the government avert bankruptcy.
It is suggested that the money earned through the lottery be spent on development projects, like hospitals, training institutes, and subsidizing essential commodities.
Similar schemes have been operating with success in several developed countries, including the United States, the United Kingdom, the United Arab Emirates, and Malaysia.
The government is likely to set up a task force soon after examining the legal aspects of the scheme and evaluating its economic impact.
The publication reported that a similar scheme was launched before the 1989 South Asian Federation (SAF) Games in Islamabad. A huge sum was generated, but the lottery was discontinued after a number of religious scholars decreed it as un-Islamic, even likening it to gambling and betting.
This time, the government plans to seek the opinion of religious scholars before launching a lottery.
According to financial experts, the idea would address the International Monetary Fund’s (IMF) concern that aid to the common people should not be given through subsidies since it burdens the public coffers.