IMPACT OF COVID-19 ON EXPORT OF PAKISTAN

Introduction

So, 2020 has hit upon our world with a very outrageous and killing virus COVID-19, which is spreading drastically. This all started as an epidemic all the way from Wuhan, Hubei, a city of China, which has made the whole world in misery now by affecting our whole worldly affairs, systems, work, lifestyle, and, most importantly, our health infrastructure. About millions of people have been infected, and many deaths have occurred worldwide.

Pandemic Overview

The virus is spreading rapidly because no proper vaccinations are available, and it is highly infectious that spreads through sneezing, coughing, and touching things being touched by an infected person or even if the virus particles settle upon that surface.

Right now, our superpower USA is also under the influence of this pandemic struggling to overcome it like others, but the experts say this is just the initial stage of the spread of the virus the worse has yet to come. Most likely it was foretold by the researches it will be over soon when hot weather arrives as the virus is heat-sensitive, but we’ve seen no downfall at all rather during this time its rise is on the peak.

Sector Overview

During the early outbreak of this virus, Pakistan was entirely safe and sound from this. Still, as time passed, this virus was introduced in Pakistan through the travelers coming from countries like Iran, Spain, and China, which have been the hardest hit at that time.

As for now, this deadliest virus has killed hundreds of people in Pakistan thousands of them are infected, and this figure is sharply increasing daily. The only way to make it a stop is through maintaining social distance by staying home and not making any of the social interactions as this disease is transmissible. Our government is taking full measures to fight this over.

Impact on Import and Export

Coming to the most critical discussion of the article is the impact of this virus on our trading systems and imports and exports, which has been influenced the most after our health and livelihoods. As for stable countries like the USA, UK, and China, the downfall figure has yet controlled not recovered, but developing countries are facing most of the consequences due to this outbreak, and still, more of it has to come.

All of the trading ratios have been slowed down globally, which obviously will have a great impact on the economic growth of each country. The ports of docks of the leading economies in the world are no more functional.

Work has been completely shut down both economically and systemically. World trade experiences a severe collapse by now the collapse is so great up to now that the economist worries will change the world able to recover this even by 2021(the lost economic balance). Despite this, what makes it more depressing is the upcoming challenges for the world, as this isn’t over yet. 

READ MORE: Boeing will cut 16,000 jobs after posting a massive loss 

The same goes for our country, the virus is on a great spread and Pakistan, which is already economically weak, and one of the most charity taking country economic stability is under the plunge. Pakistan is mostly dependent on the USA and China (the major trade partners) for its imports, Still, due to the pandemic, the trade between the countries is already on halt, which has indulged a high pressure on Pakistan.

Even Pakistani exporters can’t place their demanded orders as the trading industry is not in its full swing, but if the situation kept going like this Pakistan has to face tough times in near future due to economic imbalance as it is one of the least developed countries, such as shortage of imported goods which leads to a decline in manufacturing and international marketing crisis, economic damage, industries breakdown, joblessness, etc.

IMPACT OF COVID-19 ON EXPORT OF PAKISTAN 1

Over the past two years, Pakistan has devalued its currency, and to stabilize it has placed various inducements for producers and industrialists to increase the exports for the betterment of Pakistan’s financial strength. On April 22,20 State Bank of Pakistan also received an emergency loan of $1.39 billion by International Monetary Fund (IMF) to deal with the adverse economic impact of COVID-19.

We, as an impoverished state, can’t deal with the later massive consequences of this pandemic. Our respected leader Imran Khan considering the whole scenario took very major steps to maintain the situation, so it doesn’t get any worse.

He went for partial lockdown for the middle- or low-income people of our society as they might die of hunger and poverty, because our nation battle is not only against corona but also against poverty.

So, the leader has passed orders for s reopening the business and industries in the urban and starting up the agriculture in rural areas, which is a significant initiative, for now, to compensate with the present circumstances and to bring the poor sector out of this pressure and also to regain the usual routine.

Also, cash and necessities are delivered to the poor by the tiger force, and the IHSAS campaign has also collected a lot of funds to help the needy and poor during this difficult time.

Final Statement (CONCLUSION)

I think our government is doing a great job and our Leader is leading us the right no doubt. Speaking globally, they say we are in this together; we have to rescue each other from this pandemic and together have to cope with the challenges because this is a global issue. China, a friend in need, is a friend indeed has helped a lot by providing all of the medical instruments needed for the treatment and ventilators too.

Uncontrolled pandemics can be devastating but they certainly teach us a lot

      “Historically, pandemics have forced humans to break their past and imagine their world a new. This one is no different. It is a portal a gateway between one world and the next.”  

Like the early pandemics 1918 – The Influenza pandemic 2009 – Swine flu

2014 – Ebola, they all taught us the lessons about the dangers of social stigma, better precautions, figuring out the appropriate strategies, strengthening ourselves to make the world a better place to live in.

The future is unknowable, but at the same time, inevitable. Everything happens for a cause; let’s hope for the best and maintain the preventive measures to overcome this pandemic soon and bring our world back on track.

    “What the world needs now is solidarity. With solidarity, we can defeat the virus and build a better world.” – UNO

BY: USHNA AROOJ



24 INSIGHT

24 INSIGHT is a forward-looking company that aims to share you with the world by offering a various, far-reaching scope of Business, Fashion, Design, Health, Entertainment, Netflix, Politics, Sports, Technology, and Solutions that are needed for the 21st Century.

Leave a Reply

Your email address will not be published. Required fields are marked *