More than three million people could be unemployed and further increase in poverty: Hafeez Shaikh

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ISLAMABAD: Finance adviser Abdul Hafeez Sheikh has revealed that in the early stages of the Crona  crisis, three million people were unemployed while the poverty rate could rise from 24 to 33 percent.

Finance Advisor Abdul Hafeez Sheikh submitted a written reply to the Senate in which he said that more than three million people could be unemployed in the early stages of the Corona crisis.

Abdul Hafeez Sheikh said that one million people are feared to be unemployed from the industrial sector and two million from the services sector.

In his reply, Abdul Hafeez Sheikh said that the poverty rate in the country could increase from 24.3% to 33.5%. Due to Corona the rupee depreciated by 7.5% in the month of March alone.

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