Global Economic Powers didn’t Learn Lesson from Pandemic: FPCCI
Image Credits: Schneider Group
Islamabad, August 15 (Online Int’l): FPCCI Central Standing Committee on Insurance on Saturday said the global economic powers have not learned a lesson from the pandemic which inflicted losses to the tune of trillions of dollars to the world.
The neoliberal economic system failed to tackle virus-related losses pushing the world into chaos resulting in heavy material and social losses, it said. The situation is now improving but it can take an ugly turn anytime and the world is not prepared for it, said Dr. Murtaza Mughal, Convenor of the FPCCI Central Standing Committee on Insurance.
He said that the faulty and fragile global economic system proved to be a house of cards amid the pandemic but the majority of economic powerhouses are reluctant to take steps enabling economies and people to withstand shocks. The economic powers are still focusing on short-term gains by paying attention to banks, stock exchanges, and currency which has little to do with providing jobs or support to people.
The burning issues like climate change, inequality, health, education, and sanitation are taking a back seat. The COVID-19 pandemic response is still awaiting a well-funded healthcare system, high levels of testing, information campaigns, proper lockdowns and a proper welfare support in many countries.
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