PM reviews economic challenges in COVID-19 situation

F.P. Report

ISLAMABAD: Prime Minister Imran Khan on Friday said the out of box solutions were needed to meet the present day economic challenges in the wake of COVID-19 situation. 

He was chairing a meeting to review the economic situation and future outlook of the economy in the wake of COVID-19 situation. 

A detailed presentation was made by the Finance Ministry about the overall situation and the performance of various macroeconomic indicators during the last nine months of the current financial year.

The prime minister was also apprised of the economic impact of COVID-19 pandemic. 

The meeting reviewed the progress and impact of the Economic Stimulus Package, amounting to Rs. 1.25 trillion, announced by the government to provide relief to the poor and vulnerable segments of society, and to support various economic sectors that had adversely been hit by the COVID-19 pandemic.  

Appreciating the performance of various economic indicators during the last nine months, the prime minister appreciated the efforts of the Finance Ministry to ensure financial discipline and provision of relief during the COVID-19 situation.

He emphasized that greater attention should be paid to supporting small and medium sector enterprises and the agriculture sector enabling them to create greater job opportunities for the people.

The prime minister said the process of reforming public sector organizations should be expedited to plug leakages of the economy.

He said the process of provision of subsidies should also be reviewed to make the interventions more effective and target-oriented.

Discussing future economic outlook, the prime minister said all efforts should be made to provide maximum possible relief to the people.

He emphasized that priorities and targets for the next public sector development programme should be clearly defined with a focus on completion of the projects rather than mere initiation.

Prime Minister Imran Khan also underscored the need for maximum utilization of the public-private partnership model, and involving international development partners to enhance and broaden the scope of public sector development programme.