Asad Umar, the Planning, Development, and Special Initiatives minister said that nearly 18 million might lose their jobs, while 20 to 70 million people can go below the poverty line owing to the coronavirus imposed lockdown.
He said that according to a research that was conducted by the Pakistan Institute of Development Economics (PIDE), 20 to 70 million people could fall below the poverty line, while 18 million people could actually lose their jobs because of the virus.
Asad Umar, indicated that the revenue of Pakistan has declined by Rs.119 billion in just the month of April owing to the lockdown.
He further said that research has been conducted by the Sustainable Development Policy Institute that has shown that nearly 1 million small businesses could shut down on a permanent basis, while another research that has been done by a leading university reveals that the cost of the economic and social distancing will be quite large in terms of immediate hunger and deprivation.
The minister also indicated out that the Gallup’s survey has shown that 1 in 4 Pakistanis saw a fall in their diets owing to the virus factor.
He also said that despite the fact that the coronavirus has not proven as fatal in Pakistan as in the other nations, its economic impacts are severe. He added that the government cannot entirely ease the lockdown however everything cannot be opened either as that will overburden the healthcare systems.