World economy under tremendous pressure due to the Pandemic: Lucman

Lahore, 7th May: Today Mubasher Lucman in his video on his YouTube channel presents the actual picture in the world after going through the pandemic crisis and the lockdowns.

According to the renowned anchor, the world is passing through a tough time. The world economy is under pressure, the businesses are closing down and the prevailing situation will result in heavy layoff and unemployment. May it be industrial production or financial markets and stock exchange, airlines, tourism, and hotel industry closures are on the card and trend is negative.

Lucman adds that the worldwide supply chain system is under tremendous pressure. Agricultural production is affected and the processing industry is non-functional making it difficult to supply and store the goods. The retail sector is closed so the utilization of merchandise is minimal. The fashion industry and luxury items are no longer a priority for people in lockdowns and economic crisis.

Countries like the UK, Italy, Germany, India, Taiwan, and Japan have injected tons of money in their state banks to fight poverty, inflation, and unemployment. But such luxuries are not available to poor countries who are constantly under pressure by IMF for debt payments.

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We have to consider that world will change after this pandemic and lockdown needs and demands will change and the buying patterns will be different from the past.

According to Lucman, if from today China resumes its production it will face scarcity of demand as Europe the biggest market for Chinese product is economically ruined and more that 50% population has either lost its jobs or is concerned about their future, so the demand for goods will get negative impact.

In the other video released today on Mubasher Lucman Official YouTube Channel, the anchor stresses the need of taking precautions even if the lockdown by the government has been removed.

According to Lucman, Prime Minister Imran Khan has full knowledge about the economic pressure and its impact on the common man. He has been watchful of the situation and studied worldwide trends and patterns of handling this pandemic.

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Gauging all the aspects he has taken a bold step and announced the removal of lockdown so that people can resume their normal life. Raw material stores, Aluminum, and steel industry, retail stores, and all major businesses will resume work. The schools have been directed to open after 15th July 2020.

Pakistan is lucky in this fact that the infection rate is lower than the majority of developing countries as well, but it is our responsibility to adhere to proper social distancing and hygiene management to avoid the further outbreak of the disease.

Lucman further adds that we have to be careful and don’t take undue advantage of ease-out in lockdown. We must follow the guidelines and instructions laid down by the government especially as the retail shops will be open from Seher time to 5 pm and the OPD’s in the hospitals will also resume duties.

Lucman ends his video with a message that we should be considerate for others, help the needy, and get back in normal life with caution and care.

Stay tuned to Baaghi TV for more updates!

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