Federal Minister for Planning, Development, Reforms, and Special Initiatives, Asad Umar, has said that Pakistan is now garnering economic dividends after controlling the novel coronavirus pandemic in its early going.
Taking to his official twitter handle on Tuesday, Federal Minister for Planning, Development, Reforms, and Special Initiatives, Asad Umar said: “Dividend of controlling COVID early paying off on the economic side also, as V-shaped recovery gets confirmed.”
Dividend of controlling covid early paying off on the economic side also, as V shaped recovery gets confirmed. Large scale manufacturing numbers for july show more than 9% growth over june and more than 5% growth vs july 2019
— Asad Umar (@Asad_Umar) September 15, 2020
He continued that Large Scale Manufacturing (LSM) figures for July show more than 9 percent growth over June and more than 5 pc growth as compared to July 2019.
Today it was reported that the Asian Development Bank (ADB) forecasted that the scaling up of the Ehsas Program will result in a broader economic recovery of Pakistan.
In its latest report, ADB said the COVID-19 impact will subside by the end of 2020—the end of the second quarter of FY2021—allowing global conditions to normalize and economic sentiment to improve.
The report also assumes the resumption of structural reform under an ongoing IMF Extended Fund Facility program to address macroeconomic imbalances.