ECONOMIC IMPACT OF COVID-19 ON PAKISTAN - Khalid Zafar & Associates

The corona virus (COVID-19) is sweeping the globe and causing colossal damage to human lives; the figure of death almost exceeding 150,000 and still the virus is spreading like wild fire. The COVID-19 pandemic has shaken the foundations of global economies and affected the everyday lives of global communities. This is an unprecedented and difficult time from a human and economic perspective. Lock down of businesses has crippled the world economies and it looks that we are heading towards a global recession. Pakistan is also under a lock down situation and with an increasing trend of corona virus affectees being seen in almost all parts of the country.

Economic impact of COVID-19

ICMA Pakistan is closely monitoring the situation and complying with the Government’s advice to ensure that we play our part in controlling the spread of this deadly disease. Moreover, responding to the emerging requirements due to outbreak of COVID-19, the Institute has taken the following initiatives:

  • discount@ 25% in the coaching fee of the students;
  • initiating online coaching classes on regular basis for students;
  • arranging live seminars; and
  • conferences to continue CPD activity for members.

Recently, an International CFO Convention was organized with foreign speakers on panel, including President IFAC Launched a ‘‘COVID-19 RESOURCES HUB’ which contains essential resources to equip our members with the latest developments and help them navigate through this crucial time. All Government and Regulatory Bodies’ notifications issued on COVID-19 have been made available at one page on the Hub which will keep on updating by placing new notification. One page on Hub is dedicated for members to provide their input on COVID-19 and its implication. This booklet titled ‘ECONOMIC IMPACT OF COVID-19 ON PAKISTAN’ is also a timely initiative by the Institute to assess the implications of COVID-19 pandemic on different sectors of the national economy. I am sure that this booklet would provide a useful reference document for our members, students, policy makers, economists, finance professionals and other stakeholders to have a panoramic view of the situation faced by our national economy amid COVID-19 outbreak in Pakistan.

By Benish Khan

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