According to the latest available Labour Force Survey (2017-18), the total unemployed persons in Pakistan are 3.79 million out of the total labour force of 65.5 million, depicting an unemployment rate of 5.79%.
Year-wise data on total labour force, total unemployed persons and unemployment rate from the year 1990-91 to the year 2017-18 is given below:
Note: The above data was submitted in the National Assembly by the Minister for Planning, Development and Special Initiatives Asad Umar on February 14, 2020 in a written reply to a question asked by the Pakistan Muslim League-Nawaz (PML-N) lawmaker Chaudhry Muhammad Barjees Tahir.
Responding to another question asked by Ali Khan Jadoon of Pakistan Tehreek-e-Insaf (PTI), Asad Umar told the House that the Chinese Companies have not given any loans to the government of Pakistan; however, the Chinese government has provided the loan for the following projects:
- Thakot-Havelian Road project (KKH-II)
- M-5 Motorway Multan-Sukkur Section
- Optical Fiber (Khunjrab-Rawalpindi)
- Orange Line Metro Train Project
- Eastbay Expressway Road Project
The following three kinds of loan modes have been used for the execution of the China Pakistan Economic Corridor (CPEC) projects:
- Government Concessional Loans (GCL)
- Preferential Buyer Credit (PBC)
- Buyer Credit (BC)
Furthermore, the Eastbay Expressway project worth US$ 179 million is an interest-free loan.
The minister further told that the composite interest rate of all CPEC loans is approximately 2.4%, and the loans are for a tenor of 20 years with a grace period of 5 to 7 years.
