18 million people may lose job, says Pakistan Minister
Islamabad/IBNS: Giving a hint that COVID-19 might leave a major burden on Pakistan's economic paradigm, country's Minister for Planning, Development and Special Initiatives Asad Umar has said between 20 million to 70 million people could fall below the poverty line and 18 million people could also lose jobs due to the lockdown.
In a news conference at the National Command and Operation Centre (NCOC) here, Asad was quoted as saying by The News International that as per a research carried out by the Pakistan Institute of Development Economics (PIDE), between 20 million to 70 million could fall below the poverty line, while 18 million people could also lose jobs owing to the virus.
During the conference, he also pointed out that a recent survey by Gallup showed that one in four Pakistanis saw reduction in their diets because of the virus factor.
The minister was quoted as saying by the newspaper, “We have seen revenue decrease by Rs119 billion in just one month and a research conducted by the Sustainable Development Policy Institute has shown that around one million small entities may close down permanently, while another research by a leading university showed that the cost incurred by the economic and social distancing might be large in terms of immediate deprivation and hunger.”
Pakistan has registered 22049 COVID-19 cases so far. The country has witnessed 514 deaths.
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