Current effects of coronavirus
Coronavirus is causing great destruction and the effects of coronavirus are going to stay for a long time. Poor economies and states are crumbling under the devastating effects of the coronavirus. The effects of coronavirus can be seen clearly at this time but no one is certain about the long term effects. Currently, the number of infected patients has reached 2.3milliom with the death toll of 161k deaths. This pandemic is surely causing a traumatic effect on a simple man’s life.
Coronavirus is causing damage to all classes of society. A man with a million rupees in his savings account can stay home quarantined for months without problem but it doesn’t mean that a high-class man is not going to suffer from the effects of coronavirus. On the other hand, the poor community is suffering a lot.
According to the Ministry of planning Pakistan, it is estimated that 18.5 trillion people are going to lose their jobs; reducing the workforce of Pakistan greatly. Over three months, it is estimated that the economy of Pakistan is going to get a devastating loss of up to Rs 2 trillion. In Pakistan, the community under the poverty line is at the brink of death due to hunger.
Long term effect on simple citizen
Daily wagers are going to suffer a lot. Moreover, the people working in the private sector will lose their jobs which is going to give a huge bump in unemployment chart. Citizens having their businesses will have a huge loss. Students will have a big gap in their studies, especially students under the high school in rural areas will have zero knowledge when they head back to the school after this lockdown situation but here is also a benefit that the busy parents will become more available towards their children and provide them with some extra care and attention.
The busy members of the families such as students and full-time employees will come close to each which will improve their long time relationships. Here the students have an advantage of learning something new and become creative. All this free time is going to provide great opportunities
The main thing here is that the situations are not going to be the same for all the people. Especially poor families are going to spend this time of pandemic in extra constant fear and worry. The government is trying its best to provide these families with all the necessities and some honourable NGOs such as JDC welfare organization is helping a lot in this difficult time.
With all this help the coronavirus is still going to leave a huge impact on society. As I mentioned before that the families will come closer to each other but the people will also hesitate to meet other people and have rude behaviour with unknown people as coronavirus is going to leave a large face of fear in minds.
Effects of coronavirus on the Economy
Due to this Coronavirus pandemic, major changes are taking place in the stock market. BBC reported that major stock markets are experiencing some historic declines. Investors are not investing in this time of pandemic because they that they may face loss.
Former U.S Secretary of State Henry A.kissinger stated that: “COVID-19 pandemic will alter the world order forever”
According to ADB, Pakistan is going to face a decrease to 2.6% from 3.3% in GDP. This decrease in GDP will place numerous milestones and challenges for government. This effect is noted more severely in countries like Pakistan. Not only the poor countries are going to suffer but developed countries like China and the U.S are also going to take a long time to recover from the effects of Coronavirus. (Possibly years)
If the government fails to tackle these challenges then the country will suffer for a very long time.
Effects on corporates and Pharmaceutical companies.
The effects of COVID-19 are also observed on corporates. Many of the large businesses are not investing these days, on the other hand, sales of particular companies are spiking because people are stocking on emergency supplies. This effect is observed all over the world. Same is the case of Pharmaceutical companies. There is no definite cure for coronavirus but still effects of coronavirus are seen on pharmaceutical companies
The outbreak of this pandemic is causing rapid sales of certain medicines such as chloroquine which is mainly used to prevent and treat malaria. This is also used to control COVID-19 symptoms. However, the vaccine of coronavirus is about 12 months to 18 months away but we can say one thing for sure that when the cure or vaccine comes, the pharmaceutical companies and manufacturers will suffer great pressure.
Effects on Climate
A large community of internet is supporting a theory stating that the effects of coronavirus are proving beneficial for the environment but sorry to say that they are completely wrong. It is right that due to lockdown the private transport is halted and many countries including Pakistan have issued orders for complete lockdown but on the other hand the transport for medical purposes is increased.
This pandemic is also causing more medical waste production. The theory of cleaner climate due to less population will be right if the current situation is carried up to a year or more. Then we will get only cleaner air but the other pollution will still be there. If the cure or vaccine of this coronavirus is released then there will be much more pollution to manufacture as all the sources will be directed to produce the substance.
This all sums up to the result that the coronavirus is causing devastating effect all over the world. No one is safe nowadays so the best option is to follow the guidelines provided by the government authorities. The whole world is in the suffering zone so the only thing we can do is that we sit back and wait. The best approach is to follow all the precautions to be safe and sound.