The Prime Minister’s recently constituted a think tank to focus on the ways to boost the economy amid Covid-19 induced downturn.
Advisor to the Prime Minister on Finance, Abdul Hafeez Sheikh presided over the 2nd meeting of the Think Tank on 25-April Saturday which was attended by Dr. Ishrat Husain, Shaukat Tareen, Sultan Ali Allana, Dr. Ijaz Nabi, Arif Habib, Dr. Waqar Masood along with Advisor to PM on Commerce and Finance Secretary.
The Think Tank identified key areas of fiscal matters and public finances, monetary affairs and banking sector, social safety nets, commodity prices, SMEs and large businesses, public health challenges and role of private sector for policy intervention of the Government.
The think tank members highlighted the need for further reduction in Interest Rates in the economy along with Lowering the Petroleum prices in line with Global Trend.
The forum also discussed how to increase foreign remittances, agriculture financing and bringing efficiency in the agriculture sector by supporting small farmers.
The think tank discussed the need for a bailout package for businesses and exporters along with the assessing the impact of the reduction of GST on consumer goods, from 17% to 5%, to boost consumer spending for next 2 years.
It was conveyed that Prime Minister may himself attend the next sessions in order to bring direct supervision to the forum.