Neutral international observers have acknowledged economic progress made by Pakistan despite the novel coronavirus crisis, Adviser to the Prime Minister for Finance Abdul Hafeez Sheikh said on Tuesday.

He was speaking at a press conference alongside federal ministers and SAPMs where a progress report of the achievements of the PTI government in its second year was unveiled.

Talking about the Emergency Cash Assistance Programme, under which the government handed out cash to lower-income families hit by the health crisis, Sheikh said that it was the first time that a government had introduced a relief programme to support the masses. He said that millions of people had benefitted from the cash programme.

The government also introduced cheap loans to assist small traders so that they would not have to fire their staff due to lack of funds. The government also provided relief to traders by paying their bills for three months, he said.

As a result of the government's initiatives, the economy had grown despite the Covid-19 crisis and the past month saw a six per cent increase in exports. Cement sales and exports had also increased substantially.

Due to the government's policies, economic observers and organisations like Moody's, Fitch and Bloomberg had improved Pakistan's rating, he added.

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