Pakistan ranked number two in the world in the global normalcy index of the Economist. The rankings measured recovery and opening up of society and economy post COVID-19.
Sharing the index report in a tweet on Thursday, Minister for Planning and Development Asad Umar said Pakistan was 3rd in the first evaluation and number one in the second. He also said Pakistan is the only country in the world to be among the top 3 in all three rankings.
“Pakistan ranked number 2 in the world in Economist global normalcy index measuring recovery post covid opening up of society & economy. Pak was 3rd in the first evaluation and number 1 in the second. Pakistan is the only country in the world to be in the top 3 in all three rankings,” the Minister tweeted.
This year Pakistan ranked above leading economies including India, the US, China, and France. In the latest ranking, the top-performing country is Egypt.
Pakistan ranked number 2 in the world in Economist global normalcy index measuring recovery post covid opening up of society & economy. Pak was 3rd in the first evaluation and number 1 in the second. Pakistan is the only country in the world to be in top 3 in all three rankings pic.twitter.com/2S7gTbStH2
— Asad Umar (@Asad_Umar) January 20, 2022
In November 2021’s report, Pakistan also ranked above many developed economies, including the US, the UK, and India. According to the Economist, Europe and Central Asian countries witnessed an increase in Covid cases owing to the cold weather. It further reveals that policymakers fear people’s compliance with Covid restrictions weakened. Interestingly, Pakistan fared better than other countries with an increase in daily activities.
PM Khan’s SME Policy
Important to note, PM Imran Khan recently launched a Small and Medium Enterprises (SMEs) policy. He underlined the importance of supporting small businesses and startups.
Furthermore, PM Khan identified difficulties faced by small businesses in getting loans and credits. As a result, SMEs did not contribute to the GDP to their full potential. Therefore, the national SME policy will facilitate small businesses in taking loans from banks.
“The SME sector is the biggest source of employment and has a considerable share in wealth creation,” PM Khan noted.
Additionally, PM Khan also warned that government will take strict action against those departments that would create hurdles for the agriculture, industry, or the services sectors.