December 22, 2020: Federal Minister for Finance and Revenue, Dr. Abdul Hafeez Shaikh has expressed the government's firm resolve to correct the fundamentals of the economy through effective policymaking and targeted reforms with the objective to achieve sustainable and inclusive economic growth in the long run.
Speaking at a Webinar titled “Making Pakistan Prosper: Strategy for Economic Growth and Development” organized by the Institute of Policy Reforms, he said, despite the COVID-19 pandemic various economic indicators including remittances, FDI and exports and large scale manufacturing have shown progress.
The Finance Minister said the resurgence of Covid 19 in Pakistan and the world over has posed new challenges and the world economy is passing through an unprecedented crisis and according to IMF, there will be a 4.4 percent contraction in it.
He said the government took effective measures to put the economy back on track, consequently, Pakistan's economy witnessed a remarkable improvement in fiscal and current account deficits, a 17 percent increase in tax collection and successfully met performance criteria of the International Monetary Fund.
The Finance Minister said the government has given unprecedented fiscal, monetary and construction stimulus to stimulate economic recovery amid COVID-19 and in a post-COVID-19 scenario.
Federal Minister for Finance and Revenue, Dr. Abdul Hafeez Shaikh also chaired a virtual meeting of the National Price Monitoring Committee (NPMC) to review the price trend of essential commodities in Islamabad.
