Pakistan Orders Shops And Hotels To Close Early Amid Economic Crisis

Pakistan Orders Shops And Hotels To Close Early Amid Economic Crisis

Pakistan, one of the world’s fastest-growing economies, is facing its worst economic crisis in decades. In an effort to mitigate the impact of the crisis, the government has recently ordered all shops and hotels to close early, beginning on August 21, 2020. The new measure is expected to reduce the number of people on the streets and limit the spread of the coronavirus. This measure is part of a package of economic reforms aimed at improving the country’s economic situation.

Coronavirus Lockdown

In an effort to contain the spread of the coronavirus, the Pakistani government has implemented a nationwide lockdown since June 2020. The lockdown resulted in the closure of many businesses, including restaurants, hotels, and shops. The lockdown has had a significant impact on the country’s economy. According to the International Monetary Fund (IMF), Pakistan’s economy will contract by 0.4% in 2020 due to the pandemic.

Economic Reforms

The government has taken several steps to improve the country’s economic situation. These include cutting taxes, increasing public spending on infrastructure projects, and introducing trade liberalization measures. The government has also implemented a range of monetary and fiscal policies aimed at stimulating the economy and reducing the impact of the crisis. The Central Bank of Pakistan has reduced interest rates, while the government has announced a range of stimulus packages.

Early Closure Of Shops And Hotels

The latest measure announced by the government is the early closure of shops and hotels. All businesses will be required to close at 6 pm, beginning on August 21, 2020. The government has cited public safety concerns as the reason for the measure. It has argued that the measure will prevent overcrowding in public places and limit the spread of the virus.

Reaction To The Measure

The measure has been met with mixed reactions from the public. While some have welcomed the measure as a necessary step to contain the spread of the virus, others have raised concerns about its potential impact on the economy. Business owners, in particular, have expressed concerns about the measure. Many fear that the early closure of shops and hotels will lead to a decrease in sales and an increase in unemployment.

Impact On The Economy

The early closure of shops and hotels is likely to have a negative impact on the economy. The measure is expected to reduce consumer spending, which will have a negative impact on economic growth. The measure could also lead to an increase in unemployment. Businesses that are forced to close early will have to reduce their workforce, leading to job losses.

Conclusion

Pakistan is facing its worst economic crisis in decades, and the government is taking steps to mitigate the impact of the crisis. One of the latest measures announced by the government is the early closure of shops and hotels. The measure is expected to reduce the spread of the virus, but it could also have a negative impact on the economy. Business owners have raised concerns about the measure, fearing that it will lead to a decrease in sales and an increase in unemployment.