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Economic indicators advanced despite COVID-19 says Finance Minister

Syed Umarullah HussainiWeb Editor

22nd Dec, 2020. 12:35 pm
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Abdul Hafeez Shaikh

Federal Minister for Finance and Revenue, Dr. Abdul Hafeez Shaikh has said that despite the novel coronavirus pandemic various economic indicators including remittances, foreign direct investment (FDI) and exports and large scale manufacturing have shown progress.

According to the details, Dr. Abdul Hafeez Shaikh while speaking to a Webinar said the government of Pakistan Tehreek e Insaf has a firm resolve to correct the fundamentals of the national economy through strong policymaking to achieve sustainable and inclusive economic growth in the long run.

Dr. Abdul Hafeez Shaikh said that the second wave of the novel coronavirus in Pakistan and across the world has posed new challenges and the global economy is passing through an unprecedented crisis and according to IMF there will be a 4.4 percent contraction in it.

The Finance Minister said that 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 the performance criteria of the International Monetary Fund.

Moreover, Shaikh added that the government has given unprecedented fiscal, monetary, and construction stimulus to stimulate economic recovery amid COVID-19 and in the post-COVID-19 scenario.

Pakistan COVID-19 Situation

The dread virus claimed 82 more lives in Pakistan in the past 24 hours bringing the national death tally to 9,474.

NCOC said that the national caseload hit 460,672 after 1,704 new infections reported in a single day.

As many as 1,852 patients have recovered from the virus during the last 24 hours and 2,398 patients are in critical condition. The total count of active cases is 40,261 and the positivity rate is recorded up to 4.9 percent.


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