A written answer submitted by the Finance Ministry during a Senate session has shown a grim picture of the economic impact of the coronavirus.

According to the ministry, up to three million people could end up unemployed due to the Covid-19 crisis. One million people in the industrial sector while two million people employed in the services sector could lose their jobs.

The ministry estimated that poverty rate would increase to 33.5 per cent from the current 24.3pc while the fiscal deficit would jump to 9.4pc from 7.5pc.

It also predicted that there would be a decrease of Rs2 billion in remittances from labourers working abroad.