The Covid-19 contagion has not only created a human crisis of unprecedented scale but rattled the global economic order, quicker than anyone could have visualised a few months ago. The crisis has fast transformed the socio-cultural life, which, in turn, determines the economic activity and consumption patterns.
The disruption of global supply chains during the pandemic outbreak has forced a rethink of the ideals of market economies and countries are resorting to protectionism, on the pretext of national self-sufficiency. The lockdowns have resulted in closures of retail outlets in the export markets.
Despite the new challenges, the crisis has also created a set of opportunities for Pakistan in the short, medium and long term.