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Strict financial discipline imposed to revive economy: Hafeez Shaikh

ISLAMABAD: Adviser to Prime Minister on Finance Abdul Hafeez Shaikh on Wednesday said that the incumbent government had to introduce a strict financial discipline due to an uncertain economic situation inherited by them from previous rulers, ARY NEWS reported.

Speaking during the Pakistan Strategy Dialogue session at the World Economic Forum (WEF), Hafeez Shaikh said that the incumbent government in Pakistan imposed smart lockdown and launched an emergency cash programme to mitigate the effects of the COVID-19-related restrictions.

He said that the government brought improvement in current account deficit through measures aimed at bringing down imports in the country.

The adviser on finance said that the government has supported the construction sector in the country to revive the economy during the time of the pandemic.

“We completely support investments from the private sector as it acts as the engine of the economy,” he said and further added they also welcome foreign investments in the country and believe in introducing transparent, accountable and ease of doing business measures for them.

Earlier in the day, Prime Minister Imran Khan addressing a Pakistan Strategy Dialogue session organized by the World Economic Forum (WEF) said the national economy has embarked on the right track with stability.

The PM said that his government while trying to curb the Covid spread, ensured people don’t fall victim to famine and guaranteed financial aids to daily wagers whose sustenance was in question amid the lockdown.

The dialogue today was held via a video link wherein PM Imran Khan underlined Pakistan’s fight with the novel coronavirus which he said was different than in other countries in terms of smart lockdown steps taken to give space for economic subsistence of lower-income-class people and in terms of results and the first pandemic wave was controlled.



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