PM chairs meeting to review state of economy

Islamabad: Prime Minister Imran Khan Friday emphasized upon the need of continuing with the process of institutional reforms and ensuring financial discipline so as to consolidate the process of stabilizing economy while simultaneously providing possible relief to the people.

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

The meeting was attended by Foreign Minister Shah Mehmood Qureshi, Finance Adviser Dr Abdul Hafeez Sheikh, Adviser on Commerce Abdur Razzaq Dawood, Adviser on Institutional Reform Dr Ishrat Hussain and senior officials. Minister for Industries and Production Muhammad Hammad Azhar also attended the meeting through video link.

During the meeting preliminary discussion on the upcoming budget also took place with special focus on the need to deal with the emergent situation keeping in view government’s core priorities and moving the wheels of economy.

Dr Abdul Hafeez Sheikh presented an overview of the economy and highlighted stabilization and improvement witnessed during 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, enhanced revenue collection, improved debt management and ensuring financial discipline.

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