14th May 2020 Substantial Increase In Government Debt and Poverty In Pakistan Due To Coronavirus
Pakistan fiscal deficit will be significantly worse than projected this fiscal year and millions of people will be pushed into unemployment and poverty according to government estimates reviewed by Reuters news agency.
Pakistan began a phased lifting of its countrywide coronavirus pandemic lockdown measures. Pakistan government may fear the economic and political consequences of the lockdown measures more than the death rate from the virus.
Documents viewed by Reuters suggest the poverty headcount will rise from 24.3 percent to a worst case scenario of 33.5 percent. At least three million people will lose their jobs.
The documents noted that Pakistan Institute of Development Economics an autonomous research organisation set up by the government has projected job losses could reach 18 million.
Moodys credit rating agency is set to downgrade Pakistan credit rating which will make it harder for Pakistan government to borrow money. It fears a potential default on private sector debt.
Pakistan is seeking more money from the International Monetary Fund IMF to help bail Pakistan out as well as debt restructuring of Pakistan government debt by G20 countries. Pakistan was already seeking financial help prior to pandemic but now with tax receipts falling and costs rising it is in even deeper trouble.
Pakistan is also receiving half a billion dollars in coronavirus related support from the Asian Development Bank and around 1 billion dollars from the World Bank in addition to the money Pakistan got last year.
12th May 2020 Pakistan Lifting Coronavirus Lockdown Measures Despite Real Risk Of Further Spread Of Virus
The government has announced that it would lift its 2 month lockdown in phases due to fears of economic collapse.
Public transport has stopped but factories and offices have reopened.
Daily virus infection rates continue to grow. Pakistan deaths from the virus are officially more than 700 from more than 32000 infections but it is unlikely that deaths nor infections are accurate given the lack of testing medical facilities and personal protective equipment when compared to other countries more severely affected.
If the official infections were low then you could say the pandemic is under control but once it has a strong foothold as it officially does in Pakistan then it will spread like wildfire unless transmission opportunities contained. The spread in Pakistan will now accelerate as lockdown measures are lifted.
8th April 2020 Pakistan Arrests 50 Doctors Protesting Over The Lack Of Personal Protective Equipment PPE
Pakistan has had 3800 coronavirus cases officially. However it is expected that there are many more.
When people infect on average of just two people you have the condition for an out of control epidemic.BusinessRiskTV
The only known way to control coronavirus without millions of vaccines is self isolation and social distancing when you have to meet someone. Once a country has 3800 virus cases you have an incubator to rapidly spread uncontrollably.
21st March 2020 Pakistan Government To Ban All Inbound Flights For Two Weeks Due To Coronavirus
More than 600 cases of coronavirus and 3 deaths recorded in Pakistan.
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27th July 2018 Opposition Concede Victory To Imran Khan
Imran Khan leader of PTI party has claimed victory. Mr Khans party is leading the count with 114 seats of the 272 National Assembly constituencies being contested. A total of 137 seats is required for a majority and it is likely that overall majority will not be achieved and a coalition government in Pakistan will need to be formed,
Around half of Pakistans over 100 million eligible voters votedBusinessRiskTV
3rd July 2018 Pakistan Is Growing Faster
Pakistans economy is growing at 5.79 percent. Manufacturing in Pakistan continues to recover. However much of the growth is coming from government spending which is not sustainable without accompanying private sector investment and consumerism.
20th March 2018 Pakistan Rupee Weakens Due To Likely Devaluation
Pakistan’s rupee weakened against USA dollar due to what appeared a deliberate policy of the Pakistan government and central bank.
Pakistans central bank withdrew support for the value of the rupee and this caused it to drop in value against other currencies including dollar.
Pakistan’s economy is growing at around 5 percentBusinessRiskTV
15th July 2017 Dead Fish Creates Water Quality Fears
Water quality in Rawal Dam is under review. Tons of dead fish found in Rawal Lake have raised fears in the capital city.
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