Karachi: Governor of the State Bank of Pakistan (SBP) Reza Baqir on Wednesday stated that the country’s economy was recovering from the aftermath of the COVID-19 pandemic due to the government’s economic reforms and various relief packages offered to various industries, including the construction sector — a news source reported.
The governor made these comments while addressing a webinar titled ‘Pakistan economy post-Covid-19; the central bank perspective’ that had been organised by the Institute of Chartered Accountants of Pakistan. During his speech, Mr. Baqir said that the country still had the economic depth to support its citizens and the national economy. He added that the pandemic may have delayed the government’s reforms, but it had not stopped them.
Governor Baqir further noted that the country’s economic growth outlook was currently better than a lot of other nations. He also talked about how Google’s community mobility report from last month had suggested that growth in retail, recreation, grocery and pharmacy, parks, transit stations and workplaces had declined. However, the same reports and graph had suggested that these sectors could recover as well.
In addition, the governor noted that the Pakistan Stock Exchange had also been recovering recently due to the relief measures introduced by the government and the SBP, which allowed businesses to stay afloat during the ongoing coronavirus pandemic.