LAHORE: Punjab Chief Minister (CM) Usman Buzdar here on Monday launched Punjab’s post COVID-19 public investment strategy ‘Responsive Investment for Social Protection and Economic Stimulus (RISE)’.
The strategy was prepared by Planning and Development Board (P&D) whereas its main objective is to deal with the after effects of COVID-19 in terms of the economic crisis as well as helping vulnerable groups susceptible to the financial setback caused by the pandemic.
According to the documents shared by P&D, the policy is based on a seven points agenda, including economic recovery and stability, social protection, public financial management system (PFMS), disaster risk financing, governance, minimum core health capacities, education sector framework, and risk communication; details of which are given below.
ECONOMIC RECOVERY & STABILITY
Under this agenda, a Micro, Small and Medium Enterprises (MSME) rehabilitation fund has also been proposed and the sectors will be supported to find new markets locally and internationally.
The government will also take comprehensive measures to eradicate the threat of locust attacks and ensure water availability, improving yields by increasing the quality of seeds and inputs and also support farmers to alter cropping patterns as per changed agro-climatic zones.
According to documents, the government will have to invest and give substantial incentives to different enterprises/businesses to re-orient the way they conduct the business whereas while observing the scope of the digital market place the government will manage it as an opportunity for all.
SOCIAL PROTECTION
For social protection and policy and decision making the government will enhance its surveying capacity and establish a social protection fund in Punjab whereas the fund will pave the way for contributory insurance schemes for workers in informal sectors.
Moreover, the government will have a conscious shift in the development spending to introduce schemes and projects in the construction sector, irrigation works and other public works schemes to support an employment guarantee scheme for the workers who have lost their livelihood due to the crisis.
MINIMUM CORE HEALTH CAPACITIES
According to documents, the government will establish ‘One Health Council’ to help the province fight such deep-rooted health issues and outbreaks.
The government will look to make investments in ensuring better compliances with International Health Regulations, support the adoption and implementation of Global Antimicrobial Resistance Surveillance (GLASS) to build antibacterial resistance in the province.
GOVERNANCE
Under this agenda, the government plans to establish an ‘online feedback mechanism’ which will be a technology-driven solution to help the government conduct meaningful policy dialogues with private sectors, social sector and even citizen groups.
EDUCATION SECTOR FRAMEWORK
Under this agenda, a number of measures have been suggested that will focus on developing better teachers, interactive and progressive teaching and assessment material, encourage the use of IT and under the new normal build capabilities to deliver effective education through e-learning platforms.
The province sees large returns to developing successful PPPs in e-learning and remote learning technologies and materials.
PFMS AND DISASTER RISK FINANCING
According to the documents, the government relaxed provincial taxes worth Rs. 18 billion till June 2020, however, some of these relaxations may need to be reviewed post-June especially to improve targeting of the tax relief measures.
Additionally, the situation requires a complete rethink of the Government’s fiscal framework, improved cash and treasury management and more agile yet flexible systems to ensure cash is available directly at service delivery units responding to COVID-19 emergency.
Similarly, efforts will be made to consolidate government cash by pooling all assets at the treasury. The framework also requires improving reporting and expenditure tracking capabilities and developing disaster risk financing strategy to be able to deal with any future disasters more effectively.
RISK COMMUNICATION
Under this agenda, the strategy will look towards assessing the existing information value chains and build on them an integrated and unified public channel to disseminate risk communication.
This will further involve policy changes and coordination between a host of departments and stakeholders, and media and cyber control agencies to ensure strict standards are developed and enforced.
The government will also leverage more with international agencies and channel good practices and common information on risk mitigation through mediums that would work more effectively in the local context.
While speaking to this scribe the P&D Chairman Hamid Yaqoob Sheikh said, “RISE Punjab is a collaborative effort of many dedicated professionals from government, academia, business, international partners, etc.”
“It is a comprehensive framework for the entire economy. It provides a strategic direction for public investments and aligning policies and shall be used while formulating next year’s Annual Development Plan (ADP) as well as realigning ongoing projects in the short-term, medium-term and long-term,” he explained.
