PM stresses financial discipline for economic stability

ISLAMABAD: Prime Minister Imran Khan on Friday emphasised upon the need to ensure financial discipline and continuation of institutional reforms in order to consolidate the process of economic stabilisation while simultaneously providing relief to the masses.

He was chairing a meeting to review the state of the country’s economy.

The meeting was attended by Foreign Minister Shah Mehmood Qureshi, Finance Adviser Dr Abdul Hafeez Sheikh, Commerce Adviser Abdul Razak Dawood, and Institutional Reform Adviser Dr Ishrat Hussain. Industries and Production Minister Muhammad Hammad Azhar also attended the meeting via video link.

During the meeting, preliminary discussion on the upcoming budget was held with a special focus on the need to deal with the emergent situation caused by coronavirus keeping in view the government’s core priorities.

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Dr Abdul Hafeez Sheikh presented an overview of the economy and highlighted stabilisation and improvement witnessed during the first nine months of the current financial year in macroeconomic indicators.

He said that during this period, significant improvement was made in reducing trade and fiscal deficit, current account deficit; increasing foreign direct investments, tax revenue; improving debt management, and ensuring financial discipline.

He also gave a detailed briefing on the impact of coronavirus and the efforts made by the government to provide relief to the people as well as businesses, including an unprecedented incentive package offered to the construction sector.

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