‘45-day lockdown may cost 1.3 million jobs in K-P’
Report projects economic growth of the province could fall from last year’s 3.73 per cent to 2.9 per cent this year
PESHAWAR: The provincial government on Sunday expressed fear that as many as 1.3 million people may lose their jobs if a lockdown was imposed for 45 days in the province.
This was disclosed in a report, titled ‘Coping Strategy: Mitigating Adverse Impact of Covid-19 on the Economy and Job Market in Khyber-Pakhtunkhwa (K-P)’, prepared by the provincial Planning and Development Department.
The report discusses the current situation and the future impacts of the novel coronavirus (Covid-19). It said that as many as 460,000 people working on daily wages and street vendors could lose work due to the lockdown.
Released on Sunday, the report highlighted the impact of the Covid-19 pandemic on the province's economy. The people highly vulnerable to the financial impacts of the Covid-19 are daily wagers, people paid per the work performed, paid non-family apprentices and street vendors, the report read.
It projected that the economic growth of the province could fall from last year’s 3.73 per cent to 2.9 per cent this year. The Gross Domestic Product (GDP) of the province could also decrease from Rs1.335 trillion to Rs1.316 trillion.
Published in The Express Tribune, April 20th, 2020.