Nutshell Group is hosting the 5th edition of Pakistan’s largest corporate event ‘The Future Summit’ in collaboration with Martin Dow Group. Speakers at “The Future Summit” appreciated the government’s policies, strategy and initiatives for successfully tackling with COVID-19 epidemic, and the resultant social and economic issues.
Governor State Bank of Pakistan, Dr. Reza Baqir said that due to the best approach and policies of the government under the leadership of Prime Minister Imran Khan Pakistan could efficiently handle the Covid-19 situation. After World War-II, it was the biggest global crisis.
However, Pakistan succeeded in strengthening the economic indicators against many other countries wherein their economies badly shattered because of lockdowns. And, even then, they suffered huge human loss.
Pakistan government adopted the policy of “ Safety of Life and Livelihood” and allowed to continue economic activities in the country amid strict checks over the spread of the corona virus.
Prime Minister and his financial team deserved credit for saving the country from economic crisis, along with minimizing the Covid-hit casualties.
The Government extended financial support to trade and industries to offset the Covid shocks, which otherwise would have been compelled to off-load big number of their employees creating chaos in the society.
Besides, it distributed billions of rupees among the poor through Ehsas Cash Programme to make them able to meet their basic needs till covid-19 situation improved.
Under this programme, out of every three households one family got good amount of cash and the programme got world appreciation.
“Pakistanis should feel proud of the government’s strategy on Covid-19. From top leadership the economic managers’ response was very proactive,” he remarked.
He spoke on the steps taken by State Bank of Pakistan, in pursuance of the government’s policy, for savage of trade and industry from Covid-19, and to overall support to the economy. These included launching of Temporary Economic Refinancing Facility for expansion and new industrialization. Under TERF, Rs 470 billion soft loan was provided.
Listing the main achievements of the Central Bank, he said the economic fundamentals were kept intact , rather strengthened over last two years. Fiscal deficit was significantly reduced whereas in many countries it went up.