Pakistan’s economy recovering, particularly in manufacturing and construction — ADB

ISLAMABAD: The Asian Development Bank (ADB) has said Pakistan’s economy is recovering, even as a second wave of the coronavirus has affected businesses.
Pakistan has so far recorded 432,327 infections and 8,653 deaths, with over 3,000 cases recorded in the last 24 hours.
“Pakistan’s economy is recovering, particularly in manufacturing and construction, supported by government emergency relief,” the ADB said in its Outlook 2020 Supplement, Paths Diverge in Recovery from the Pandemic.
After a peak of over 6,800 daily infections in June, the numbers in Pakistan fell to a low of 213 in August, and remained below 700 for most of the last three months.
The government of Prime Minister Imran Khan has ruled out a complete lockdown and decided to continue the “smart lockdown” policy with strict implementation of safety guidelines.
The country’s last comprehensive lockdown was lifted in May.
Despite the persistent spread of COVID-19, most economies in Asia have continued to relax containment measures, having deemed strict lockdowns to be economically unsustainable.
“Containment remains relatively stringent in Central, South, and Southeast Asia, where outbreaks have continued in some economies and reemerged in others,” the ADB said. “Containment is less stringent in East Asia and the Pacific where outbreaks are under control or absent. Consequently, mobility and economic activity have improved in these subregions in recent months.”