APD | So far, so good, Government of Pakistan is faring well in dealing with pandemic

**By APD writer Imdad Hussain **

South Asia, according to the World Bank is in for the worst economic situation in 40 years, with decades of progress in the battle against poverty at risk, because of coronavirus.

Pakistan, India, Bangladesh, Afghanistan, and other smaller nations of about 1.8 billion people having some of the planet’s most densely populated cities, have so far reported relatively few coronavirus cases but experts fear they could be the next hotspots.

The living conditions in the most populous region of the world are ideal breeding grounds for enhancing the spread of coronavirus and make things worse for the nations with markets, railway stations, bus stops, and public places often found overcrowded and polluted.

All the nations of the region including Pakistan are scrambling their resources to curtail the negative impact of the pandemic on their economy, employment, and most importantly the masses as a great number is living below the poverty line.

Pakistan was already facing hardships in every domain of life. With currency value going down, rate of inflation, poverty, and unemployment unprecedently high, it is very hard for a country to bear the burden of a massive outbreak of coronavirus.

In health services, the country ranks below one hundred and fifty positions on the World Health Index. The public resources are not equally available to all Pakistanis. Those living in rural areas are at greater risk owing to a lack of adequate health facilities as it is trying to ramp up its limited health facilities including ventilators, testing kits, protective kits, defensive equipment, medicines, and medical staff in the face of fast-spreading coronavirus of late which definitely would stand exhausted if the spread rate is not curtailed.

To get along, it is following the two-pronged strategy focusing side by side on economic revival and keeping the pulse of the poor segments ticking as tough lockdowns can be more detrimental, triggering hunger-related deaths and pushing more people towards poverty.

Government of Pakistan has directed maximum possible resources with Rs 1200 bn stimulus package to offset the deadly impact of coronavirus, of which Rs 144 bn are being distributed among the most deserving who have lost their daily income due to economic shut down while India through emergency credit line of collateral-free loans worth $40bn to resume business activity and safeguard jobs has announced a $264bn economic package.

In addition, country’s monetary institutions, alive to the situation, are devising business-friendly policies and announced billions of rupees packages to keep the economic cycle moving while the State Bank of Pakistan has cut down the interest rate from 13.25 % to 9 % while more cut is expected in next few days when the monetary policy would be reviewed.

Moreover, people and masses are given concessions in utility bills while the benefit of decades low oil prices has also been transferred to masses and businesses to minimize the economic battering due to the pandemic.

But the current scenario is grim and worrisome and the Government of Pakistan is also seeking help from the international community in loan readjustment and rescheduling. The international response in this regard is encouraging while all-time tested friend China besides economic support is continuously helping Pakistan in terms of equipment and medical support.

So far so good, the govt needs to keep strict watch after relaxations in lockdowns which may mar the achievements in curtailing the pandemic in a comparatively better manner.

(ASIA PACIFIC DAILY)