Introduction
Covid-19 pandemic has hit hard every country across the globe, but its profound implications can be seen on developing countries. The countries with already fledgling economies are now suffering with the Covid-19 aftermaths. It has deteriorated the very socio-economic fabric of the developing countries. It is under no illusion that Covid-19 is deteriorating the socio-economic thread of developing countries. Pakistan is one of the most vulnerable countries that could seriously suffer in many ways. Since 2001 Pakistan has removed 22 million people from the poverty circle. It is a very encouraging sign, but the process is going to reverse due to Covid-19. According to the Economic Survey of Pakistan 2020, the inflation rate is 12.6 percent, which was 5.6 percent in 2018. In summary, Pakistan with multiple loopholes in its administrative system is first in the row of most vulnerable countries.
Export
The minimum export of Pakistan dropped 3.3 percent in January and maximum of 20.3 percent in April. Whereas, import in Pakistan are less affected by Covid-19 as compared to export. Import lowered by merely 0.6 percent in January and declined by a maximum of 12.9 percent in April.
Lockdown
It is glaring fact that most of the workers in Pakistan are associated with the labor work. In light of Economic Survey of Pakistan 2020, 64 million Pakistani are associated with labor work. In Pakistan, mostly labor are untrained and unskilled. They are over worked and under paid. The Covid-19 proved a nasty blow to them. They can hardly manage to end their meet. All of this is giving space to the increasing crime rate. The lockdown is not going to help them.
The Economic Survey of Pakistan, 2020, reports that smart lockdown will leave the 12 million labor unemployed. While on the other hand, the complete lockdown will leave 18 million people unemployed. Undoubtedly, Covid-19 is posing economic challenge to the large chunk of the people in the country.
Labor migration
The Covid-19 has badly affected the labor migration and overseas Pakistanis. Numerous Pakistani migrate to foreign countries for better job opportunities. The overseas Pakistanis contribute to the economy in the form of remittances. The Covid-19 pandemic deteriorated the global transit system. Ultimately, it has heavily onslaught the sluggish economy of the country.
Inequalities between labor forces
The Covid-19 pandemic has widened the gulf between men and women labor. Apparently, labor work of women is informal. They work from the home by contributing in small industries. As Covid-19 comes the transportation system of the country at halt, it is very hard for such women to continue the work. In this way, Covid-19 is creating inequalities between labor force.
Solution
The country's officials need to take pragmatic and practice measures to revitalize socio-economic fabric of the country.
First and foremost, the government should make better policies to address poverty.
Secondly, the policies should implement smoothly. The government should bridge the gap between policy and practice.
Conclusion
It is an undeniable reality that Covid-19 has left its dark marks on every country across the globe. But developing countries have hit hard due to various reasons. The primary reason is economic deprivation of the developing countries. In this atmosphere of uncertainty, the global player should play their proactive and optimistic role to tackle the issue of Covid-19.
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