Dr. Nadeem-ul-Haq, Vice Chancellor, Pakistan Institute of Development Economics (PIED), has said that in order to run the wheel of Pakistan's economy, it is necessary to implement the policy of smart lockdown under better arrangements. Talking to international media on Wednesday, Dr Nadeem-ul-Haq said that lockdown was necessary and not necessary.
The lockdown will affect the economy. He said that there are old style cities in Pakistan. Poor people live in narrow streets and slums where social distance is very difficult to implement. Similarly, a large section of the country's population is not financially able to store rations because these people earn money by working for a living and then buy rations. Therefore, complete lockdown is not possible in Pakistan. Dr Nadeem-ul-Haq said that there could be different ways of locking down under which the opening hours of shops could be determined. In a bazaar, some shops are open at one time and some shops are open at another time and if an area is infected with the virus, it should be locked only there. However, such a smart lockdown can only be managed by
In response to a question, he said that like the rest of the world, the government of Pakistan is working in a difficult situation at the moment because the world does not understand this situation yet and it is not known when the corona virus epidemic will end. Nor will the global economic situation be predictable and uncertain. In such a situation, traditional economic models will not work because these are not normal conditions.
The world is heading for a recession and even in a country like the United States, unemployment has risen sharply. Regarding the package announced by the government, Dr. Nadeem-ul-Haq said that economic packages are useful in economies where production and economic activities are very fast, Pakistan's economy is weak and in such circumstances the package will not be able to provide complete relief. He added that the government should let the wheel of the economy run. The whole system in the country needs to be fixed and this work must begin. He said that the government should eliminate monopolies in Pakistan which would boost investment in various sectors and help in economic development including increase in business activities.
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