Businesses shut down and workers at risk of losing their jobs, says trade adviser

ISLAMABAD: Trade Adviser Abdul Razzaq Dawood has said that many businesses are closed and there is a danger of unemployment of workers.

Talking to media, Trade Adviser Abdul Razzaq Dawood said that Corona has changed the world and future business practices will be completely different.

He said that new opportunities would be created in difficult times and this was a golden opportunity to adopt the Make in Pakistan policy.

Abdul Razzaq Dawood said that many businesses are closed and workers are at risk of unemployment, but it takes time to increase manufacturing in Pakistan.

Earlier, the finance adviser said that Pakistan's exports were likely to reach سے 21 billion to 22 22 billion and domestic imports to تک 42 billion, while remittances were expected to fall sharply.

A meeting of the Fiscal Policy Board was held under the chairmanship of Finance Advisor Abdul Hafeez Sheikh in which the Governor SBP, Secretary Finance and Deputy Chairman Planning Commission and other officials participated.

Participants were also briefed on the situation before and after Corona and its impact on the economy.

It was informed during the briefing that the pre-Corona GDP growth was 3.24% which is now likely to remain low but the economic relief package will have positive effects.

Also read 

It was informed during the meeting that the primary balance was surplus of Rs 104 billion from July to March. Briefing the SBP on its efforts to reduce the fiscal deficit, the Governor said that we have reduced the policy rate by 425 points.

Deputy Chairman Planning Commission said Corona has eroded consumer and investor confidence, and the government should ease pressure on it, including facilitating business.