The COVID-19 epidemic had a profound effect on Pakistan’s economy, creating extensive disruption in a number of different industries.
The nation had to deal with issues including declining revenue, employment losses, and economic activity.
Consumer spending fell as a result of lockdown measures put in place to stop the virus’s spread, especially in sectors including retail, hospitality, and tourism.
Poverty levels were made worse by the closing of manufacturing and businesses, which left many workers jobless and with reduced incomes.
Pressure mounted on Pakistan’s already precarious healthcare system, taking funds away from economic growth.
The economy was further strained by the interruption of global supply networks, which also had an impact on commerce and exports.
In order to assist disadvantaged individuals and businesses, the government put in place relief measures such cash transfers and utility subsidies; nevertheless, these initiatives were hampered by a lack of funding.
Pakistan’s economy proved resilient in the face of difficulties, with industries like digital services and agriculture displaying some resilience during the crisis.
Nonetheless, there is still uncertainty about the long-term economic recovery, which makes ongoing measures to lessen the pandemic’s effects and encourage equitable growth necessary.
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