Covid-19 Pandemic and Pakistan Economy: A Preliminary Survey
The impact of pandemic Covid-19 appears to be quite uncertain across globe. The nations are trying to overcome its impact on their economies. It has affected the production, distribution and life style. Coronavirus pandemic has taken more than 5 lacs lives globally and paralysed the global economy. The developing countries like Pakistan expect to face substantial economic set back from this situation. This study analyses the impact of Covid-19 pandemic on Pakistan economy through observing the relationship between incidence of cases and number of tests conducted. Furthermore, it examines the impact of the demand-side and supply-side shocks due to Covid-19 pandemic on Pakistan economy. On supply side, this pandemic has halted the domestic and international supply chain, causing a shortage of inputs and necessities. On demand-side, decreased domestic and international demand have resulted in massive layoffs and poverty scares. Government and State Bank of Pakistan have announced different relief packages for controlling the situation but due to poor health infrastructure and lack of social protection, the people remain vulnerable to medical and financial misery. These unprecedented circumstances call for immediate policy changes for saving millions of people from virus and poverty.
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