News
Saturday, May 14, 2011
‘Unemployment stands at 35% against official figure of 5%’
By Sajid Chaudhry
ISLAMABAD: The Planning Commission’s chief economist Jaffar Qamar on Friday differed with the official figure of five percent unemployment in the country, and claimed that the rate of unemployment stood at 35 percent, official sources informed Daily Times.
Giving a detailed presentation on the “state of economy” during the Annual Plan Coordination Committee (APCC) meeting held at the Planning Commission’s auditorium, the chief economist informed the participants that per capita income in the country had increased, however, purchasing-power had not witnessed any surge in the recent years.
It was informed to the APCC that economy was facing a loss of two percent of the GDP (over Rs 350 billion) due to the power and energy shortfall and that the government should focus on resolution of energy-related constraints, said the sources. The chief economist was of the view that 5 percent workforce of the country was losing jobs annually due to the energy crisis, and warned that the crisis could negatively impact the economy in the next fiscal year.
Courtesy www.dailytimes.com.pk