The current situation of the coronavirus pandemic will have a very negative impact on the economy of Pakistan as people living below the poverty line might be increased by 60 million.
A conference was also held by Deputy Chairman Planning Commission Mohammad Jehanzeb Khan to discuss on the issue, international donors were also briefed in the meeting. In the conference, it was decided that the estimation of a negative impact on the economy of Pakistan due to COVID-19 will be presented by the Pakistan Institute of Development Economics.
The Vice-Chancellor of Pakistan Institute of Development Economics (PIDE), Dr. Nadeem Ul Haq, told in the meeting that the people who might get unemployed are between 19 to 20 million due to the effects of coronavirus pandemic. He added that 50 to 60 million people in Pakistan are currently below the poverty line, and the estimate is that this figure might get an increase to 125 million, as 20 million are expected to lose their jobs due to this pandemic.
The representatives of the international donors also asked the government to assess two very important issues which are that, what will be the impact of this virus on the supply chain, and what will happen to the daily wagers and street vendors as they are the ones most affected because of this pandemic?
Another issue was presented in the meeting that this is the season for harvesting wheat crops, therefore because of the pandemic this might get interrupted and the rural population can get affected by this severely.