Saturday, 27 April 2024, 12:45:55 am

Under the prevailing Covid-19 situation, PTI-led government is wisely following austerity measures:

Mirza Ikhtiyar Baig (Economist): Under the prevailing Covid-19 situation, the government is focusing on improvement in health sector. The entire world is taking the steps in this connection and no one was prepared for what just did happen in shape of outbreak of COVID-19 pandemic. The priorities across the globe have been changed. It is need of time the government must have to curtail and contain expenses as much as possible. IMF in prevailing situation has stressed upon mobilizing non-tax revenues. There was a shortage of around 900 billion rupees than the target set of FBR for revenue generation. The government has to take measures and go for privatization of non-profitable organizations to have extra funds. Many developed countries are mainly concerned on their own situation rather than collective thinking to come out of the prevailing situation.