Challenges to Economic Stability amid Global Epidemic of Covid-19: Apposite Policy Recommendations for Economic Revival in Pakistan

Authors

  • Ejaz Aslam Minhaj University Lahore
  • Ahmad Khawar Shahzad University Putra Malaysia
  • Aziz-Ur Rehman IIUM Institute of Islamic Banking and Finance (IIiBF)

Keywords:

Covid-19, Economy, Government, Lockdown, Policies

Abstract

Akin to Spanish flue of the twentieth century, the Coronavirus disease 2019 (COVID-19) pandemic is an unprecedented global emergency of the 21st century, handing down a significant effect on lives. Coronavirus promptly multiplied all around the globe and folded world economies in a short span of fewer than 90 days. It's ahead of the imagination of one and all to welcome the year 2020 with such a dangerous infection that will drag the world to a shocking end a worldwide lockdown.  This massive vulnerability complimented some basic measures by the state in public and private sectors regards to strategy plan, contextualisation, and execution in the viewpoint of an unmatched worldwide pandemic. This article widens upon the expansion situation of a pandemic in Pakistan with severe fighting measures by the Governments during initiation of pandemic, lockdown, and delicate lockdown circumstances. Multi-dimensional financial difficulties that arose out of extended shut-down are thought. This surprising situation encroaches upon legislatures to detail arrangements and changes for the prosperity and thriving of the country as a re-established common agreement between the residents and the state. Some pertinent strategy proposals are gone ahead for financial restoration with returning to wellbeing area, sacred turns of events, financial lift through monetary and money related approaches, exchange related systems, Islamic money, social security of weak sections and modern arrangement amid social removing. This study will specify information structure for future specialists to battle and standard pandemics for the prosperity of provincial and global nations.

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Published

2020-12-31

How to Cite

Aslam, E., Shahzad, A. K. ., & Aziz-Ur Rehman. (2020). Challenges to Economic Stability amid Global Epidemic of Covid-19: Apposite Policy Recommendations for Economic Revival in Pakistan. International Journal of Islamic Economics and Governance, 1(2), 34–43. Retrieved from https://ojs.mul.edu.pk/index.php/IJIEG/article/view/135