Coronavirus to push more people below poverty line in Pakistan.

Byline: Syed Fazl-E-Haider

The coronavirus cases are currently on the rise and over 7000 people in the country have been detected along 143 deaths (till April 18) with this deadly virus that originated from China's Wuhan city and now spread almost all over the world. Prime Minister Imran Khan admitted that Pakistan does not have the capability and resources but will strongly deal with the novel coronavirus. Imran Khan asked the international community to consider writing off loans to developing countries such as Pakistan to help them deal with the crisis.

The country with poor quarantine facilities, unsanitary conditions and lack of hygienic facilities is unable to fight the epidemic. Even the doctors treating the coronavirus patients lack the basic equipment like masks and gloves. The friends like China extended a helping hand to Pakistan to combat coronavirus outbreak. The lockdowns in the country is playing havoc with the lives of millions of daily wagers, poor and deprived. According to the latest poverty estimates, 24% of Pakistan's population lives below the national poverty line; which includes 31% in rural areas and 13% in urban areas. Further, 38.8% of the national population is poor based on the multidimensional poverty index- 54.6% in rural areas and 9.4% in urban areas.

From independent estimate, Pakistan is a country where up to 40% of its 220 million population live below poverty line- on less than $1 a day or less. Despite tall claims of the officials about putting the economy on growth track, it is undeniable fact that, economic divide in the country would widen in the coming days as dependence on foreign loans would hurt economy, ultimately pushing more and more people below the poverty line. The country's ballooning external debt and liabilities continue to burden its economy.

Surging poverty levels and rising inflationary pressure have hardest hit the poor and ordinary Pakistani in the past two years of the present government. Though the government shows its commitment to alleviate poverty and rehabilitate the weak and poor sections of the society, yet there are no significant measures taken by the government in practical. There is a dire need to take practical steps for supporting the poor and reducing their vulnerability. The government should create conditions for the development of insurance markets, encourage the use of other risk-spreading financial instruments and design economic and regulatory incentives for risk...