Corona has achieved nice hurt to the world financially. Because of this, the scenario of poor Pakistan is already very dangerous. The epidemic has proved disastrous for the Pakistani financial system on the verge of chapter even earlier than the outbreak of Corona. This is the primary time in 68 years in Pakistan that the expansion fee of the financial system has change into destructive (in minus).
According to the report, a gathering of the National Accounts Committee chaired by Secretary (Planning) Zafar Hassan was instructed that the corona epidemic, lockdown and grasshopper contingent assaults on crops have brought about extreme injury to the financial system and that is the primary time in 68 years Has gone to minus. <! –
Earlier in 1952, this situation of contraction got here for a while.
The assertion issued after the assembly stated that the nation's financial progress fee within the present monetary yr has been minus 0.38 %. Only the agriculture sector has seen constructive progress of two.7 per cent, though that is additionally under goal. Growth charges within the industrial, manufacturing and providers sectors have been minus. Due to this, the expansion fee within the monetary yr 2019-20 ending on June 30 has been recorded at destructive 0.38 %. In greenback phrases, per capita revenue has additionally fallen by 6.1 per cent.
The National Accounts Committee has lowered the provisional GDP fee for the primary time period (fiscal yr 2019-20) of Imran Khan authorities from 3.1 per cent to only 1.9 per cent, the bottom within the final eleven years.
Explain that former finance minister Hafiz Pasha and different specialists had already questioned the Imran authorities's declare of three.Three % progress fee and stated that this fee was simply 1.9 %. Now the federal government has stamped his phrase.