Out-of-box solutions needed for economic growth: PM

Published July 12, 2020
The prime minister said the prime focus was on providing relief to the poor segments of society through targeted subsidies. — PM's Facebook page/File
The prime minister said the prime focus was on providing relief to the poor segments of society through targeted subsidies. — PM's Facebook page/File

ISLAMABAD: Prime Minister Imran Khan on Saturday emphasised that out-of-the-box solutions were required for economic growth in these crucial times as the Covid-19 had adversely impacted the world’s economy, including that of Pakistan.

Chairing a meeting of the think tank on finance and economy, he said that from day one, the government had adopted a strategy to maintain a balance between sustaining economic activity and protecting the masses from the infectious disease.

The PM’s Adviser on Finance Dr Abdul Hafeez Shaikh, Adviser on Institutional Reforms Dr Ishrat Hussain, State Bank of Pakistan Governor Raza Baqir and former finance secretary Dr Waqar Masood Khan attended the meeting, the PM office media wing said in a press release. Adviser on Commerce Abdul Razaq Dawood, Shaukat Tareen, Sultan Alana, Dr Ijaz Nabi and Arif Habib participated via video link.

The adviser on finance briefed the meeting about the objectives and focus areas of the think tank on finance and economy.

The prime minister said regular feedback of the think tank should be provided to him on various ongoing initiatives, policies and programmes of the government.

The prime minister said their prime focus was on providing relief to the poor segments of society through targeted subsidies.

He said the Ehsaas was the flagship programme of the government to alleviate poverty, adding that it needed to be expanded along with a strategy to reach the neediest.

The prime minister highlighted that a substantive package had been announced for the construction and housing sector that aimed at increasing much needed employment opportunities, providing economic stimulus and adding to the inventory of affordable housing for the poor.

He appreciated the proposals presented by the think tank on banking and finance, further improving the Ehsaas programme and facilitating small and medium enterprises.

Later, talking to the media, Hafeez Shaikh said the government had decided to take further measures to enhance easy loan facility so that maximum number of deserving people benefited from it.

He said the basic purpose of the think tank was to consider the measures for bringing improvements in the country’s economy with the help of renowned business, academicians and banking experts.

He said during the Saturday’s meeting, the issues of banking and finance sector were considered and decision to further expand digitisation was taken.

The advisor said the participants also discussed implementation of incentives provided to the construction industry by the prime minister.

It was also decided that maximum number of deserving people would be provided easy loans while the leakages in the system would be zeroed, the adviser added.

Published in Dawn, July 12th, 2020

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Smog hazard
Updated 05 Nov, 2024

Smog hazard

The catastrophe unfolding in Lahore is a product of authorities’ repeated failure to recognise environmental impact of rapid urbanisation.
Monetary policy
05 Nov, 2024

Monetary policy

IN an aggressive move, the State Bank on Monday reduced its key policy rate by a hefty 250bps to 15pc. This is the...
Cultural power
05 Nov, 2024

Cultural power

AS vital modes of communication, art and culture have the power to overcome social and international barriers....
Disregarding CCI
Updated 04 Nov, 2024

Disregarding CCI

The failure to regularly convene CCI meetings means that the process of democratic decision-making is falling apart.
Defeating TB
04 Nov, 2024

Defeating TB

CONSIDERING the fact that Pakistan has the fifth highest burden of tuberculosis in the world as per the World Health...
Ceasefire charade
Updated 04 Nov, 2024

Ceasefire charade

The US talks of peace, while simultaneously arming and funding their Israeli allies, are doomed to fail, and are little more than a charade.