Interview with Muhammad Jehanzeb Khan
The government has reiterated time and again its commitment to economic growth and specific packages are given to trigger growth momentum in the economy. Growth framework for next year will be approved in the forthcoming meeting of National Economic Council (NEC). The recently released statistics by the PBS estimates that the GDP growth for 2020-21 is 3.97 percent, which is mainly on account of low base effect in 2019-20, exceptional growth in major crops, rebound in industrial sector and partial recovery in the services sector. I believe a major reason for V-shaped recovery is the positive impact of fiscal and monetary stimulus packages along with emergency support for protection of lives and livelihood for the vulnerable segments of the society. Of course, the policy push in the growth framework for 2021-22 will be evenly balanced and, hopefully, with the roll-back of COVID-19 pandemic and particularly with easing of travel restrictions, the economy will benefit from rebound in business activities. Of course, the government will remain vigilant to monitor downside risks of the economy, particularly developments in the external sector during the FY21.