Three million expected to go jobless in Pakistan due to COVID-19

Owing to the outbreak of the Corona pandemic, around three million Pakistanis are expected to go jobless. The findings were submitted by the finance ministry to Senate on Friday. Out of the three million jobs, the industrial sector is likely to lose one million and the remaining two million will be lost in the services sector.

Overall, the economy will face losses due to increase in fiscal deficit, leading to an increase in debt burden. Exports and remittances are also expected to decrease from estimated values. The finance ministry also said the proportion of those living in poverty will increase from 24.3 per cent to 33.5pc.

Source: Dawn