| GEO Business|
| One million people to become jobless this year: Hafeez Pasha|
| Updated at: 1751 PST, Monday, May 11, 2009|
KARACHI: As many as 3.5 million people are presently unemployed in the country while one million more will lose their jobs this year.
Senior economist Dr. Hafeez Pasha speaking in a program of Geo News on Monday said the country may have to face a major cut in foreign remittances and foreign investment.
He said allocation for Public Sector Development Programe has been reduced by 40 per cent in order to increase defence expenditure. The PSDP may be cut down further this year.
To a question, Dr. Hafeez Pasha said the present per capita income of Pakistan is less than 1000 dollars.