SMEs Covid 19

SMEs may face devastating impact amid COVID 19

Minister for Planning, Development and Special Initiatives Asad Umar has said that corona virus will have a devastating impact on small and medium-sized enterprises (SMEs) leading to an exponential increase in unemployment “18 million people could lose their jobs and one million small and medium-sized enterprises (SMEs) could be shut down forever due to Corona virus” he said.

The minister said that the coronavirus had not been as fatal in Pakistan as compared to other countries, especially in the West. He said, “the coronavirus has caused 58 per cent more deaths in the United States, 207 per cent more in Spain, and 124 per cent more in the United Kingdom as compared to Pakistan in the same period.”

Although it has been less fatal but it has affected the livelihood of a lot more people in Pakistan than anywhere else. The decision about lockdown after 9th may will be taken in the meeting of National Coordination Committee.