Search

Concern caused by UN report

A report by the United Nations Conference on Trade and Development (UNCTAD), released on Monday, said Pakistan would most likely be among developing countries that will be hardest hit by the by the economic/financial hangover of the coronavirus. It further noted that the global economy would need injections worth trillions of dollars to cope with all the damage that this virus is causing. And countries like Pakistan, no doubt more vulnerable in light of their small economies, would most likely face a “frightening combination” of debt and deflation.
Still, there seems disagreement between the centre and provinces about something as essential as the need for a lockdown. It cannot be stressed enough that since Pakistan’s economy is very small in size, and had been coping with debt, growth and revenue problems even in the good times before the pandemic, it will not be able to cope with a long lockdown. Sooner rather than later the economy will simply run out of liquidity. But if the virus is still spreading and killing at that point, forcing the economy open again will only cause an even worse collapse. The best thing to do then is to contain it while the country is still spared the kind of outbreak that some others are facing, like Iran, Spain, Italy and France.
But for that the centre and provinces will have to be on the same page. As things stand there is a sort of lockdown across the country, but a mild one at best. Only the Sindh government seems to really understand the need for shutting down whatever can be shut down right now. Sure, some duties will still have to be performed. But that only necessitates the complete closure of all kinds of non-essential movement. It was hoped that by now most common people would understand the gravity of the situation and play their part as the government went about adjusting the economy. Yet, sadly, the people of Pakistan are proving the biggest problem for the government as well as other people. Because of them additional personnel have to be placed on the streets, diverting them from other essential duties, plus there’s the prospect of the virus needless spreading and the economic response diluting for no fault of the government’s. Ordinary people across the world are helping their governments simply by not making things any tougher for anybody. Our people should do the same, otherwise the folly of a few will cost the many a lot.



--!>

PCB faces challenging task of providing ‘bio-secure’ environment at NCA

--!>