Pakistan's black economy accounts for 50pc of total: IMF
IMF says health, education sectors' situation in Pakistan hopeless, labour has no protections
KARACHI: (Dunya News) – In its recent report, International Monetary Fund (IMF) has painted a dismal picture of the country’s economy, reporting that the black economy accounted for 50% of the total while the situation of the health and education sectors was hopeless, reported Dunya News.
The report also states that 45% of the children in Pakistan have stunted growth due to unavailability of food while the labour in the country had little protection. IMF reported that the poverty index in the rural areas was 36% and while Balochistan is the most underdeveloped province, 50% of the children in Sindh are also malnourished.
The global monetary institution stated that Pakistan government’s spending on education was extremely low compared to the other countries in the region. It went on to say that 60% of the employment in the country came from the black economy but the labour has no protection in these sectors while there is no concept of social security and pension.
IMF report goes on to state that around 330 billion rupees are collected in Pakistan annually through charity, helping the poor to some extent.
