Businesses in Pakistan were severely damaged by the COVID-19 outbreak in a number of different industries.
Strict lockdowns implemented to stop the virus’s spread caused supply chain interruptions, decreased customer demand, and financial hardships for businesses.
The foundation of Pakistan’s economy, small and medium-sized businesses (SMEs), faced significant obstacles because of their lack of funding and slow capacity to adjust to remote work arrangements.
In order to survive the economic slump, several businesses had to implement layoffs or compensation reductions due to revenue losses.
Travel restrictions and the fear of infection caused a substantial drop in tourism, which particularly hurt the hotel and tourism industries.
But the recession also sparked innovation, as companies jumped at the chance to use e-commerce and digitization to reach more clients.
Effective immunization campaigns, economic stability, and international market conditions are still necessary for the long-term recovery of enterprises in Pakistan, even with government initiatives like relief packages and low-interest loans intended to lessen some of the financial pressures.
PAKISTAN Automatic Touchless Contactless Sanitizer Dispenser for Office, School and Home