Prime Minister Imran Khan briefed about economic impact of COVID-19

ISLAMABAD (92 News) – Prime Minister Imran Khan presided over a meeting to review the economic situation and future outlook of the economy in 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 past 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 Economic Stimulus Package, amounting to Rs 1.25 trillion, announced by the government to provide a relief to the poor and vulnerable segments of society and to support various sectors of economy that have adversely been hit by COVID-19 pandemic. Appreciating the performance of various economic indicators during past nine months of the current financial year, the prime minister appreciated the efforts of the Finance Ministry to ensure financial discipline and provision of relief during COVID-19 situation. The prime minister 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. He said that the process of reforming public sector organizations should be expedited to plug leakages of the economy. He said that the process of provision of subsidies should also be reviewed to make these interventions more effective and target-oriented. Imran Khan said that out of box solutions were needed to meet the present day economic challenges. Discussing future economic outlook, the prime minister said that all efforts should be made to provide maximum possible relief to the people. The prime minister emphasized that priorities and targets for the next public sector development program should be clearly defined with a focus on completion of the projects rather than mere initiation. He also underscored the need for maximum utilization of public-private partnership model and involving international development partners to enhance and broaden the scope of public sector development program.