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Growth framework will be redeveloped

Lahore

May 8, 2020

LAHORE:The Punjab government will make its Annual Development Plan 2020-21 in accordance with the Punjab’s Post Covid-19 Public Investment Strategy RISE PUNJAB (Responsive Investment for Social Protection and Economic Stimulus) to redevelop its growth framework and priorities.

This was informed to all members and senior chiefs of the Planning & Development Board by the secretary in a meeting on government new strategies on the formulation of ADP 2020-21 in response to post Covid-19 situation. The consultation was in light of the current economic crisis caused by the Covid-19, and to prepare new guidelines for new ADP in response for the financial and economic recovery phase after the natural calamity.

The primary agenda of the meeting was to form new strategies that will help in dealing with after effects of the Covid-19 in terms of economic crisis and to help the vulnerable groups susceptible to the financial setback.

It was pointed out that the utmost focus of the government is to take imperative measures to help its people for economic revival after the pandemics. He also discussed that the Punjab government’s latest strategy for ADP 2020-21 will be developed under the guidelines set by RISE Punjab.

Punjab Growth Strategy 2023 no longer represents a relevant model or growth trajectory as it had never envisaged a massive structural shock to the economy with an unknown duration, therefore, the government intends to take immediate step to revise its strategies for ADP 2020-21 formulation. Punjab government has already taken imperative measures to fulfill the immediate requirements of common man. The government main focus is to launch growth generating schemes, public and small works schemes – SMEs that will help in reviving economic circle of the people of Punjab.