COVID-19 has a huge impact on global economy. Especially, when countries exercised lockdown strategy of different levels and forms. It is yet to be seen whether the lockdown strategy remains effective in the Pakistani context. Moreover, business and the nature of the business might change post COBID-19.
Here is the take of Syed Veqar ul Islam, on the current lockdown and how businesses will evolve post COVID – 19.
Fact is all those who were sending horrific mathematical models need to look back and redo their work, as they have been proven wrong so far by country miles. My Allah protect us all. I believe we are in this for a long haul. It is not a 2 weeks or 4 weeks lock down game. We are talking about several months to over a year. We need to strike right balance between virus and protecting our people. HR in my view has a huge role to play to deal with this. Dealing with this crisis needs lot of empathy.
USA is doing massive testing. Their testing rate to confirmed patients is at 20%. Do not believe such people who are spreading news without any eye on facts. I need to check the latest, but in terms of numbers confirmed cases we were at 32/33 in the world, in fatalities around 40+, in critical cases around 45+. Better than any top nation of the world. Better than India and Bangladesh by many a miles.
We do not read. We hate facts and basing arguments on data and facts. We love “forwarded as received world” and believe it to be our religious duty to forward and receive else we will go in hell. Anyone reading data, comparing data will tell you that despite bordering with China and Iran we have done outstandingly well. We should be very proud of the work that happened. All data is public. All people need to do is to explore, read and then form opinions.
On economy - in Pakistan the way lock down was sold to people was “that is a solution”. Medicine is the solution. Lock down only delays the spread and create physical spaces to create social distancing - Which is the only thing that works for now. Nothing else.
We need to find another way to deal with this. It is virus and economy - both, not either/or. Our imagination on solutions must move beyond lock down only. We need to use lot of testing and data from it, to lock down areas and segments while others can carry on with work. We must immediately move on a countrywide emergency digital strategy. Has to happen via policy work and policy intervention. Any and every business, work, individual, services which can move online, must move into digital world. Bring consumers on the cloud and bring businesses and services on the cloud and let them run their shop from their with minimal need for physical contacts. Amazon is hiring 75,000 people in this crisis. They showed the world power of digital. If we are smart, we should replicate it. Massive opportunity for us to transform and come out as leaders.