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Pakistan black economy amounts to 50 of total white economy: IMF Report

Pakistan black economy amounts to 50 of total white economy: IMF Report

International Monetary Fund IMF has presented it’s report on the economic conditions of Pakistan.

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.

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.