KARACHI: Economic & Financial Analyst Ateeq Ur Rehman has said that it is very difficult for Small Entrepreneurs to fetch out salaries, wages and payments for their workers as the businesses and monetary transactions are at halt or will be closed for almost two weeks. Enormous hardship is being faced by the employees; therefore an urgent support in the shape of grant or easy terms refinance policies for SMEs and small traders by SBP is eminent and requested.
Administration seems to be very active in sealing and putting heavy penalties to small shopkeepers and traders but they look to be helpless in maintaining the prices of essential goods and food items which is awful and stressful for common men hence they are forced to pay more but buy less.
During lockdown, the unbearable heavy consumer’s bills and the intermittent breakdowns of electricity by KE are agonising in such scorching heat and Ramazan, too.
The dominant challenges of Covid-19 are health and economy. Now the question arises whether health is priority or economy said Ateeq Ur Rehman.
The plea of the government is that saving a life is the utmost base and priority whereas the business community agrees but insists that the lockdown will further deteriorate the existing dilapidated economic conditions.
For sure, the health condition of the nation is not only depreciating because of Covid-19 but also because of other diseases and neglect of SOPs and other deterrents.
He said that observing lockdown is necessary but one of the examples of the downfall of economy is the apathy of Auto Rickshaws in lockdown which is quite depressing. Almost 95 percent of them are stranded and have no passengers whatsoever.
Most of the Rickshaw drivers are the sole bread earner of the family and beside have no other means of income. Majority of the Rickshaws are on instalments and if they stayed home instead of driving them, they would default on their loan payments.
In such worse conditions, faced by them, the government should support them and make policies for their survival and their families because they have no other means of existence.
The other scenario when markets are closed, poor motorcyclists are deprived of spare parts needed for their motorcycles in emergencies, thus their mobility is blocked with a broken motorcycle, said Ateeq.
Copyright Business Recorder, 2021
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