Federal Cabinet will meet today (Tuesday) in Islamabad with Prime Minister Imran Khan in the chair, to discuss the overall economic situation of the country.
The development comes as preparation of the economic survey for the current fiscal year – based on the usual practice of basing projections for the entire year on nine month data – is underway.
As per details, the Ministry of Finance has estimated GDP growth at 0.38 percent negative provisionally for the current year as announced subsequent to the National Accounts Committee (NAC) meeting held on May 19, 2020 – a projection (-) 1.12 percent lower than the International Monetary Fund (IMF) projection of (-) 1.15 percent.
Furthermore, the meeting will also review the steps taken to curb the spread of COVID-19 and the anti-locust operations launched in different districts against the crop devouring pests.
It may be mentioned here that the Prime Minister Imran Khan on Monday decided to reopen all sectors apart from those in the “negative list”, and urged the people to show responsibility and follow the government-issued Standard Operating Procedures (SOPs) “because the virus will spread and the death toll will rise”.