PM, others take stock of situation

Prime Minister Imran Khan on Friday chaired a meeting to review the state of economy of the country, and Adviser on Finance Dr Hafeez Shaikh briefed the premier on the preparation of budget for the next fiscal year.
The meeting also discussed the upcoming budget with special focus on the need to deal with the emergent situation, keeping in view the government's core priorities and moving the wheels of economy.
The prime minister emphasized upon the need to continue with the process of institutional reforms and ensuring financial discipline, so as to consolidate the process of stabilizing economy, while simultaneously providing possible relief to people.
Dr Sheikh presented an overview of the economy and highlighted stabilization and improvement witnessed during first nine months of the current financial year in macroeconomic indicators. He said that during this period significant improvement was made in reducing trade and fiscal deficit, current account deficit, increasing foreign direct investments, enhanced revenue collection, improved debt management, and ensuring financial discipline.
He also gave a detailed briefing on the impact of corona pandemic and the efforts made by the government to provide relief to the people as well as industry and businesses including unprecedented an incentive package offered to the construction sector.
The meeting was attended by Foreign Minister Shah Mahmood Qureshi, Adviser Commerce Abdur Razzaq Dawood, Adviser Institutional Reform Dr Ishrat Hussain and senior officials. Minister for Industries and Production Hammad Azhar also attended the meeting through video link.