LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) is ready to join hands with the government for formulation of a comprehensive policy to overcome the challenges of unemployment.
If the situation is not controlled in a proper manner, it may go out of hands for many years to come creating a bad name for the government, said LCCI President Mian Tariq Misbah here on Thursday. The recent spike in COVID-19 rates again risk the health system, lowering growth, upsetting recovery and can push the most vulnerable further into poverty, he said.
He emphasized on the use of PPEs (personal protective equipment) in the workplace and urged the government to ensure the implementation of SOPs to reduce the risk of further lockdown situations. The poverty rate, which was declining to 24.3 as of 2015, can reverse sharply and push up to 40 percent of Pakistanis living below the poverty line in COVID-19's viral wake, he added.
Earlier, the World Bank warned that 115 million people could be pushed into extreme poverty this year due to the economic downturn caused by the corona virus pandemic.
This could be a shocking comeback from decades of development progress and work, he said, adding most drastic measures are the need of the hour and the government must start taking actions on both fronts reducing poverty, generating employment while fighting the pandemic at the same time.
The LCCI chief said if the government wants to converse any serious setback which can halt the process of development and to reduce poverty it would need to prepare for an unalike economic approach by allowing manpower, capital, skilled labour and new innovation to move into new businesses and sectors.
He was of the view that post-COVID era demands more proactive measures and its response must be appropriate and according to the situation including education policy and helping the businesses to go online by introducing technologies.
The businesses can adapt to the situation and the focus should be on the work force which should be prepared for the changes and can work with new approaches for which the government must and quickly take action, he maintained.
Copyright Business Recorder, 2020
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