Adviser to Prime Minister on Finance Dr. Abdul Hafeez Shaikh said in Senate that as many as 3 million people could lose their jobs due to the economic impact of the COVID-19 pandemic.
Hafeez Shaikh said the COVID-19 induced economic downturn could render 1 million people in the industrial sector jobless while 2 million in the services sector.
SAPM said poverty rate would increase to 33.5% from the existing of 24.3% while the fiscal deficit could balloon to 9.4% from 7.5%.
Hafeez Shaikh pointed out the rupee recorded 7.5 depreciation in its value in March due to the coronavirus.
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