ISLAMABAD: In the aftermath of the COVID-19 situation, Prime Minister Imran Khan Friday said out-of-box solutions were needed to meet the current economic challenges. In the wake of the COVID-19 crisis, he was chairing a workshop to evaluate the economic condition and possible policy forecast. The finance ministry made a comprehensive presentation regarding the overall condition and the results of different macroeconomic measures during the last nine months of the current financial year.
The prime minister was also told of the pandemic COVID-19’s economic effects. The meeting discussed the success and effect of the Economic Stimulus Package, which amounted to Rs 1.25 trillion, announced by the government to provide relief to the weak and disadvantaged segments of society, and to help different economic sectors adversely affected by the COVID-19 pandemic.
In appreciating the success of different economic indicators over the last nine months, the Prime Minister praised the initiatives of the Ministry of Finance to provide financial stability and relief during the COVID-19 crisis.
He stressed that greater attention should be given to supporting small and medium-sized enterprises and the agricultural sector to enable them to create greater employment opportunities for people.
The prime minister said the cycle of restructuring institutions in the public sector would be expedited to plug economic leakages.
He said the subsidy procurement mechanism would also be checked to render the programs more effective and tailored. Discussing potential economic prospects, the prime minister said every attempt should be made to provide the citizens with the greatest possible relief.
He stressed that goals and objectives for the next implementation plan for the public sector would be explicitly identified, with an emphasis on project execution rather than pure introduction.
He also stressed the need for maximum utilization of the model of public-private partnership and involving international development partners to enhance and expand the scope of the development program for the public sector.
Meanwhile Fawad Ahmad Chaudhry, Minister of Science and Technology, called Prime Minister Imran Khan and briefed him on the project of the Made in Pakistan Initiative.
Fawad provided the PM with a thorough briefing on the development of COVID-19 related products in Pakistan, such as different styles of helmets, Personal Protective Equipment (PPE), and other items.
Imran appreciated both the Minister and the Ministry of Science and Technology for the Made in Pakistan Initiative project, local coronavirus related goods production, and other measures. The Ministry of Science and Technology also shared views on the creation of Biotechnology Park, and ventures such as the manufacture of agricultural equipment.