The coronavirus COVID 19 is a much more than a health crisis after World War Two both at national and international levels.
It is an ongoing political, social, economic and military crisis, which is and will leave deep scars worldwide. It was emerged in Asia last year and later it spread to all continents except Antarctica. USA, Europe and African countries were and still the worse hit from this coronavirus. Due to COVID 19 outbreak and lock downs, Pakistan is facing unprecedented adverse effects in businesses. In fact Pakistan is the hardest –hit by the global pandemic of COVID 19.
The first case of COVID 19 in Pakistan was reported in February 26, 2020. Later it continued to rise rapidly due to arrival of pilgrimages from Iran through Taftan border.
Almost all countries are trying to save their patients by taking measures such as testing and treating patients, cancelling large public gatherings, limiting travels both at home and abroad, closure of educational institutes, limiting sport events etc.
Major victims of the disease are micro, small, and medium enterprises such as financial, supply chain disruption, decreased in demand, reduction in sale and profit, among others
Many cities are deserted as people are working either from home or staying indoors both by choice and at times by the order of the government in terms of smart lock downs. The unavailability of labors, slowdown of productions, shortage of raw materials and transportation restrictions is having major ramifications of businesses. The businesses in hotels, restaurants and shopping places are almost standing still.
People are losing rapidly their jobs in all fields. They do not know when normality will return to the country. Income level is at the lowest level. Poor’s are becoming poorer and hunger level is most devastating. Highly qualified and skilled persons like electricians, plumbers, masons and other skilled persons are seeing selling fruits and vegetables. Major victims of the disease are micro, small, and medium enterprises such as financial, supply chain disruption, decreased in demand, reduction in sale and profit, among others. Almost all enterprises were not having any contingencies plan ready with them to cater the situation. Many MSMEs are running out of stock and few hardly operating now a day. Mostly the Income and employment generation organizations are not working.
Businesses in rural and urban areas in agriculture, manufacturing, retail, wholesale, trade, and services sectors suffering badly since last over a year.
COVID 19 can make some people extremely ill and more rarely it is fatal. Most people are suffering from mild illness. Older people and those with pre-existing medical conditions such as high blood pressure, diabetes or other heart and lungs problems appear to be more fatal. All must protect to protect others.
The Author: Major Dr Muhammad Ali, former Economic and Commercial Analysist in UAE Embassies, holds PhD degree