The impact of Covid-19 on economic situation of Pakistan
a story of losers and winners
DOI:
https://doi.org/10.23925/2179-3565.2022v13i3p190-208Keywords:
new norm, transition, digital economyAbstract
COVID-19 was declared pandemic with no apparent treatment of this virus in late 2019. It was recommended to observe the social distance, quarantine the infected patient, and follow good hygiene practices. Further, some strategies were adopted to control the spread of COVID-19, including social distancing, use of face masks, forced lockdown, and closure of borders. Many developing countries like Pakistan are facing severe crises and economic recession. Most people affected by this pandemic are women, children, elderly, and people with immune deficiencies. Zoom has become the counter-piece of life during this pandemic because people use it for job, education and socializing. This pandemic resulted in high earnings in the IT sector. Pakistan's e-commerce market size has witnessed a new high. The growth of e-commerce and mobile phone banking market size increased rapidly. Further government can help transition the businesses towards online mode, which can help retain jobs and economic growth stability.
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