Federal government has said there is a dip in private investment demand since the onset of pandemicModeration in credit offtake in the country given that the outbreak of the Coronavirus pandemic, due to absence of private investment demand, is an area of issue for the government.Secretary in the Economic Affairs department of the Financing Ministry, Ajay Seth said on Monday while resolving an industry body occasion that among the difficulties being faced by the federal government is that credit offtake has actually moderated in the last 18 months because of the onset of the pandemic.Due to absence of private investment need, the credit offtake demand has been rather moderate, he stated, adding that it was a location where additional work is required .
At the same time though, Mr Seth stated that in spite of the unfavorable impact of the pandemic, the nation has actually been on the course of economic recovery, assisted generally by a number of reforms released by the main government in the last 7 years.He added that even throughout the lockdown period and when the pandemic was at its peak, many significant reforms were unveiled by the government, which assisted the economy to recuperate.
Throughout the pandemic duration of the past 18 months, it was not just the management of the impact of the pandemic, beginning with a health crisis spilling over to the genuine economy and afterwards some impact onto the monetary sector.
Handling each of those, however with really strong emphasis on stepping up the reforms, so that the economy can get better with a fast growth rate, and also the potential development rate can be developed, he stated.