Staff Reporter
Islamabad
Foreign Minister Shah Mahmood Qureshi on Saturday said that the coronavirus is not only a medical but also an economic challenge and everyone must play his part in overcoming the virus.
Addressing overseas Pakistani community via video-link, in light of the increasing number of deaths in the US due to the novel coronavirus, the minister said Pakistan’s exports have plummeted and remittances are estimated to go down by 22 to 23 per cent.
Qureshi said Pakistan was once again in a difficult economic situation and added that fiscal deficits will go up and might be back in double-digits, from 9.5 to 10 per cent of the country’s GDP according to predictions, although the situation remains unpredictable.
“We have taken certain steps in our limited fiscal space. The government has announced a $8 billion relief package,” said the foreign minister. Qureshi said the government had taken the initiatives to protect the poor segments of the society and support the economy at this difficult juncture.
Qureshi further apprised the overseas Pakistani community over Prime Minister Imran Khan’s efforts in launching a global debt relief initiative. The premier is trying to mobilise Pakistani community both in and outside the country to contribute to the PM relief fund and has received encouraging support, the foreign minister said.
He assured that Pakistan has enhanced its capacity to bring back 7,000 stranded Pakistanis from abroad every week. H expressed the confidence that this figure will go up in the coming weeks. “It is our utmost endeavour to bring back all the registered 60,000 stranded Pakistanis before Eidul Fitr,” he said adding that 10,000 Pakistanis have already been brought back.
