Coronavirus and the economy.

RECENT ADB estimates suggest that Pakistan's economy could suffer a loss of up to 1.5pc in its GDP growth rate due to the fallout from the spread of the novel coronavirus, while the capital markets have already been roiled by a strong bout of volatility due to mounting fears and anxiety.

World oil markets are seeing a sharp fall - according to some reports the sharpest drop in oil prices since 1991.

This has driven down oil-related stocks that carry heavy weightage in the KSE 100, such as OGDC and PPL, both of which hit their lower circuit breakers on Monday.

In addition, some estimates suggest the global aviation industry could see up to $113bn worth of revenue losses as a result.

Global supply chains have been disrupted badly because of the massive shutdowns in China that have either closed down industries altogether, or disrupted the return of workers from the new year holidays to the point of creating acute labour shortages in industrial areas that are not directly impacted by the shutdowns.

In every sphere, from travel and aviation to shipping and transport as well as oil prices and capital markets, economies around the world are seeing sharp downswings as a result of the fallout from the efforts to contain the spread of the coronavirus.

There are reasons to be concerned here in Pakistan as well.

At the moment, there are no indications emerging of a widespread outbreak of the virus.

But each day the number of people diagnosed positive is rising, albeit slowly, and there is no way of knowing how far this is going to go.

Besides the obvious public...