“On employment, we can assess that under moderate restrictions employment loss could be up to 12 million, around 20% of the employed labour force,” the deputy chairman said. These people will sustain Rs783 billion losses. As compared to Rs600 billion official assessment, Pasha and Kardar’s assessment showed the revenue losses in the range of Rs150 billion to Rs290 billion. If both exports and imports decline by 10% each, the fourth quarter GDP would take a hit of 2.3% or Rs345 billion. Similarly, a 20% decline in imports and exports in the fourth quarter would cause losses of 4.7% of the GDP or Rs700 billion.

Source: The Express Tribune April 03, 2020 05:02 UTC