Economic crisis after Covid-19: Bailout plan being devised, says minister

LAHORE:Presiding over the first meeting of Steering Committee on Economic Stabilisation Plan in the wake of COVID-19, Punjab Finance Minister Hashim Jawan Bakht has said the government is cognizant of the economic impact the current crisis will have on businesses.

Adviser to CM on Economic Affairs Dr Salman Shah and P&D Board chairman were also present on the occasion. Three working groups head by P&D Board chairman with defined terms of reference have been constituted. The steering committee has the representation of experts from P&D Board, Finance Department, Health Department, Punjab Social Protection Authority, DFID, Sub-National Governance Programme, PITB and Urban Unit.

The minister said the government was devising plans for a comprehensive economic stabilisation and bailout plan, health infrastructure and financial needs plan and a social protection plan. He added that the three working groups would chalk out plans in their respective areas to be implemented. He said the federal government would be approached through the Chief Minister's Office for support especially on COVID-19 related procurement as well as arrangements for the supply of all material like masks, protection suites, sanitisers and lifting of China's SOE controls.

He said that the P&D Board and Finance Department would work in smooth coordination to ensure that departments especially Primary and Secondary Healthcare Department got maximum support and added that in the next few days deliberations would be made for social protections interventions like cash/commodity transfers to most vulnerable people especially daily wagers and those in the informal workplace. He also said that options of collaboration with private sector were being explored especially in food and logistic service delivery to ensure that citizens d not face any shortage.

Pharmacies: A delegation of Chain of Pharmacies Association called on DIG Operations Rai Babar Saeed in his office here on Wednesday.

SSP Operations Muhammad Naveed was also present. The delegation discussed matters and issues related to the sale of facemasks and sanitizers in the wake of impending Coronavirus. DIG Operations Rai Babar Saeed said members from all sections of society can defeat this fatal pandemic with collective efforts. He said that it is necessary to take indiscriminate action against profiteers and hoarders during the present situation. Rai Babar Saeed said that availability of face masks and sanitisers at proper prices to the citizens is the most important matter at this time. He urged the pharmacies to play a vital role in provision of items and medicines to citizens for precautions and treatment purpose against coronavirus at proper prices. He said that the prices of masks and sanitisers will be fixed in the forthcoming meeting of pharmacies representatives with District government according to the product quality and range. He said police will ensure sale of face masks and sanitisers at fixed prices. Rai Babar Saeed said strict action will be taken against any violation of sale of mask and sanitizer at prices fixed by the stakeholders. He said all pharmacies should make profiteers and holders accountable for any violation in this regard.