ISLAMABAD: As coronavirus continues to wreak havoc on economy, accounting for over 600 countrywide deaths, Prime Minister Imran Khan on Friday said there was a need to come up out-of-the-box solutions to address the fiscal challenges in the wake of COVID-19 situation.
He was chairing a meeting to review the economic situation and future outlook of the economy wherein a detailed presentation was made by the Finance Ministry about the 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 Rs1.25 trillion announced by the government to provide relief to the poor and vulnerable segments of society.
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 emphasised 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 organisations 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 emphasised 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.
He also underscored the need for maximum utilisation of the public-private partnership model, and involving international development partners to enhance and broaden the scope of the public sector development programme.
