Pakistan ‘s economy is declining, unemployment is rising and there are crisis in various sectors. Pakistan’s exports primarily comprise of textile products. These exports are decreased since the COVID-19 crisis started; even some orders are being canceled. Pakistan is estimated to possess faced an economic loss of up to Rs 2.5 trillion thanks to the Covid-19 Pandemic. within the current year and government figures project that around three million jobs are expected to be lost within the “initial round” of the novel corona virus outbreak. It is smart – in times of uncertainty, people are more likely to withdraw cash from banks. Currency circulation may increase, as the government has announced a stimulus package of Rs1.2 trillion to financially help both employees and companies.
Those Pakistanis who have suffered the foremost from the economic impact of the break outbreak on lives and livelihoods are primarily the country’s daily wage workers and concrete slum dwellers. When the COVID-19 numbers show a relative slowdown, it can’t be translated because the pandemic having reached a peak. Therefore, the govt. has imposed lockdown again in selected area in various large cities (LHR, ISB) in line with emergence of latest cases. Screening at the airports, obligatory masks publically places and ban on social gatherings remains imposed.
There has been anecdotal reports in the midst of the COVID-19 pandemic suggesting that demand for cash has risen. Much of this has been fueled by videos and pictures of individuals withdrawing cash which have circulated online. To counter the negative impact of COVID-19 under the Rozgar (Employment) Refinancing Scheme to support employment and forestall layoffs, except for the healthcare & medical and building & construction sectors, the long-term opportunities for Flemish countries would depend upon the offer and expertise of Flanders region which are already well regarded in Pakistan (steel, metals, chemicals, raw materials, industrial machinery and goods, etc.)
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