ISLAMABAD: In the wake of COVID-19, Chief Minister Punjab Usman Buzdar launched the ‘RISE Punjab’- Responsive Investment for Social Protection and Economic Stimulus plan as the provincial government’s response to boost economic growth and ensure social protection in the province.
The decision was announced in a meeting attended by Secretary Planning and Development, Senior Officials, Representatives of DFID, after deliberating on a comprehensive strategy submitted by the P&B Board supported by DFID’s Sub-National Governance (SNG) team, to align with the government’s future economic growth strategy
Elaborating on the matter, Buzdar informed that the submitted strategy will set the direction of the impending Annual Development Plan (ADP) of the province for public sector investments in the post-COVID-19 period.
The primary agenda of the plan ‘Responsive Investment for Social Protection and Economic Revival’ is to curtail the financial implication caused due to the pandemic, and avert economic crisis by introducing various investment and development opportunities.
Under this, all development schemes and initiatives, whether locally funded or donor-supported, will be developed under this ‘RISE Punjab’ plan.
The government will study all sectors one by one to identify the stalling factors and help grow.
The integrated framework of ‘RISE Punjab’ encompasses six sectors, which includes economic recovery and stability, social protection, health, substantial improvements in the governance capabilities, education and human capital development and risk management.
Chairman P&D Hamed Yaqoob Sheikh discussed that it is a collaborative effort to strategize a direction for the entire economy, through public investments and aligning policies, which shall be used to formulate Annual Development Plan for the upcoming year.
The plan will also realign ongoing short-term, medium-term and long-term projects.
Moreover, in addition to providing technical assistance in the preparation of the report, SNG has committed to supporting the government in minimising the impact of COVID 19 on the economy as well as the most deserving part of the society, said SNG Punjab Team Lead Usman Chaudhry on the occasion.
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