Kathmandu. The economist Dr. Shankar Sharma has said that the economy is in a serious crisis due to the corona virus. He said that Rs 6 billion monthly relief is needed for the people who have lost their jobs. He stressed on the need for the government to bring a relief package of over Rs 6 billion monthly.

Stating that 4.4 million people are employed in the informal sector in Nepal, he said that 60 percent of them could lose their jobs. He is of the opinion that the government should provide Rs 6 billion relief for those 60 percent people.

 Stating that 2.5 million people are employed in the formal sector, he said that 1.2 million people could lose their jobs. He said that the government should also provide special facilities and relief to them.

He said that as the SME sector has consumed about Rs 300 billion in loans, it is necessary to immediately raise Rs 100 billion to provide relief to them.

He also suggested that the money spent on new and big projects should be diverted to other sectors as there is no immediate recovery of the economy.