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ISLAMABAD: Pakistan, on Monday, urged the international community for providing additional financial assistance to developing countries to deal with the negative impact of corona pandemic on the economy and fight against the socioeconomic challenges.

Federal Minister for Economic Affairs Makhdum Khusro Bakhtyar, on Monday, represented the country at the World Bank Group meeting on Human Capital Ministerial Conclave held virtually.

The theme of meeting was creating Green, Resilient and Inclusive Recovery of Economy after Pandemic.

The spring meeting includes ministers and government officials from 80 countries to share views/narratives that will improve the human capital of the world after the pandemic.

Addressing on this occasion, the federal minister said Pakistan was one of the first “Early Adopters of Human Capital Project”.

He highlighted the country’s initial response to combat Covid-19 crisis remained strong and robust and well-recognised by the international community.

He said the incumbent government led by Prime Minister Imran Khan put up an economic stimulus package of $8 billion which helped to save lives and livelihoods, adding, as result of this “our economy contracted by only 0.4 percent as compared to global contraction of 3.5 percent.”

He said that corona caused less negative impact on Pakistan’s economy as compared to other countries. Pakistan’s anti-corona strategy was appreciated globally, said Bakhtiar.

While highlighting the government’s climate initiatives, he said the government had launched 10-Billion Tree Tsunami Project, Eco-system Restoration Initiatives, Recharge Pakistan, and Clean and Green Pakistan Movement to curb climate change and its environmental impacts.

The minister also underlined that a comprehensive poverty alleviation programme Ehsaas launched, which was another major social protection plan of the incumbent government to protect the vulnerable segments from the economic shocks of the pandemic.

He said Ehsaas Programme also included Tahafaz, Kamyab Jawan, Livelihoods interventions for poor farmers and women, and graduation programmes to support youth and agricultural sector through micro-financing and micro-credits.

The minister called for enhanced support of international community to fight against the socioeconomic challenges in time of pandemic. He said that additional financial resources would help to create fiscal space to invest more in human capital.

Copyright Business Recorder, 2021

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