A high-level taskforce set up to assess the impact of the global financial meltdown on Hong Kong is expected to explore new opportunities for the city's economy at its meeting this week. But a government source said the administration was unlikely to unveil fresh massive programmes to create jobs or help companies after Friday's meeting of the Taskforce on Economic Challenges. 'The government has devoted huge amounts of resources to creating jobs in the past few months and members of the public should not expect the taskforce to come up with new job-creation packages costing billions of dollars,' the source said. Financial Secretary John Tsang Chun-wah rolled out a HK$1.6 billion package in last month's budget to provide 61,760 jobs and internships in a bid to ease unemployment. Chief Executive Donald Tsang Yam-kuen announced after the taskforce meeting in December that the government would create more than 60,000 jobs by speeding up civil service recruitment and infrastructure projects, and would provide HK$100 billion in loan guarantees to businesses. The source said the taskforce would assess Hong Kong's economic outlook, and deliberate on medium- and long-term measures aimed at helping the city ride out the global financial crisis. 'After suggesting short-term measures to mitigate the impact of the global financial crisis in its first three meetings, it is time for the taskforce to switch its focus to new opportunities for Hong Kong's economy,' the source said. The taskforce is expected to explore new business opportunities for major sectors of Hong Kong's economy such as financial services, trade and logistics, as well as tourism, during the upcoming meeting. The 10-member taskforce comprises bankers, economists, and experts in finance and culture.