3 years of economic recovery plan has been unveiled by the Khyber Pakhtunkhwa Planning and Development Department to deal with post-pandemic circumstances, .
On Thursday, July 30, Chief Minister Khyber Pakhtunkhwa Mahmood Khan unveiled the 29 billion rupees Azam-E-Nou (The Spirit of Khyber Pakhtunkhwa) economic plan. Chief secretary Shakeel Qadir Khan and additional chief secretary Dr. Kazim Niaz were present during the unveiling occasion.
The Azam-E-Nou plan will be focused on the socio-economic development framework to help put the economy back on track.
Khyber Pakhtunkhwa aims to fast track economic recovery post pandemic
The 3 years of economic recovery plan includes 43 interventions in 9 development sectors that will overcome the socioeconomic consequences caused by the coronavirus.
Those 9 development sectors taken as the pillars in the economic recovery plan consisting of emergency response, public works, small and medium enterprises, economic evolution, social defense, education, governance, jobs for development, and economic growth.
“Under the plan, the economic recovery will aim to minimize the effects of job losses, provide economic stimulus for the revival of affected businesses and implement public sector interventions to create short-term jobs, medium-term service delivery, and long-term development outputs,” the plan read.
According to the launched economic recovery plan, the Khyber Pakhtunkhwa planning and development department has set its focus on medium as well as long term planning in order to overcome the crisis management of immediate coronavirus shocks on the economy.
Employment has been majorly affected which has caused an unrest in the society and the plan is to get the economy back on track to resume business activities.
The statement says, “the planning and budgeting of economic recovery plan have been aligned to the provincial financial budget, annual development program and Accelerated Implementation Programme for 2020-21 to ensure priority implementation and funds availability.”
Work on the plan started back in March 2020 and the planning and development department moved swiftly to offset the newly formed economic and employment repercussions of the Covid-19 outbreak.