On Monday, Pakistan’s Prime Minister Imran Khan argued that the losses in the country’s economy were justified to lift the coronavirus-related lockdown despite the increases in infections and deaths.
Almost all shutdown measures are lifted already with tourism all open but cinemas and theatres. Schools will also remain closed.
According to the PM, economic losses such as exports slump, revenues and remittances plunges are likely to happen in the upcoming months. The country is facing a crisis in its balance of payment with fiscal deficit to probably soar to as high as 9.4%, combined with the revenue shortfall.
He said that the country could not afford to match the losses during the lockdown as 50 million people are living below the poverty line and 25 million people depend on daily wages. In total, about 130-150 million people out of its 220 million citizens were severely affected by the shutdowns.
The PM said that the government could not possibly continue its cash handouts to the poor on such a large scale.
