Pakistan economy would be contracted sharply due to COVID-19, says IMF Representative Teresa Daban

News Image

MG News | April 20, 2020 at 01:12 PM GMT+05:00

April 20, 2020 (MLN): IMF Representative in Pakistan, Teresa Daban Sanchez while addressing a seminar has said that owing to multiple challenges faced by Pakistan amid COVID-19 pandemic, the economy would be contracted sharply.

Furthermore, inflation might touch 11.3 percent during the ongoing fiscal year and the country’s expenses are expected to increase by Rs 700 billion.

In addition to this, tax collection likely to be reduced by Rs 900 billion, she added.

She said that prior to COVID-19, the Pakistan economy was poised to strengthen as the reforms and steps were taken place to keep economy on track, she said.

The economy was on road for stabilization, as the tax collection was increasing, external imbalances had been significantly reduced, the growth was projected at 2.4 percent in FY 2020 and the current account deficit was expected to narrow, but after COVID-19 the economic activity is expected to contract, she added.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 171,021.20
228.53M
-0.42%
-718.25
ALLSHR 103,836.39
572.65M
-0.41%
-422.85
KSE30 50,951.99
89.47M
-0.52%
-264.77
KMI30 240,633.87
93.99M
-0.31%
-756.80
KMIALLSHR 66,572.75
300.61M
-0.28%
-185.59
BKTi 48,673.23
31.18M
-0.70%
-343.86
OGTi 33,702.25
6.35M
-0.61%
-205.57
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 64,500.00 64,550.00
63,875.00
285.00
0.44%
BRENT CRUDE 98.70 101.19
95.13
-1.99
-1.98%
RICHARDS BAY COAL MONTHLY 105.75 0.00
0.00
-1.55
-1.44%
ROTTERDAM COAL MONTHLY 121.10 121.10
121.10
0.70
0.58%
USD RBD PALM OLEIN 1,175.00 1,175.00
1,175.00
0.00
0.00%
CRUDE OIL - WTI 90.47 0.00
0.00
1.16
1.30%
SUGAR #11 WORLD 14.76 14.79
14.54
0.07
0.48%

Chart of the Day


Latest News
July 25, 2026 at 05:09 PM GMT+05:00

Weekly Market Roundup


July 25, 2026 at 01:40 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg