The data released by the government presented a dismal economic performance as all indictors painted broad-based setbacks and Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh blamed Covid-19 for a loss of over Rs3 trillion to the national income.

Presenting the Economic Survey of Pakistan 2019-20 at a press conference on Thursday — a day before the announcement of the federal budget for financial year 2020-21 — the adviser spent a large part of his speech building narrative around inheriting a troubled economy and putting it on road to recovery before the Covid-19 pandemic hit economies of the world and Pakistan.

The data showed that not only most of the economic sectors actually went down but a few ones in the positive zone also missed targets. While Dr Shaikh put a brave face to fight back the economic contraction next year, he was equally uncertain about the recovery pattern or how long the downturn could go on to put numbers to economic loss, poverty rate or unemployment.

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