Socio-Economic Challenges of COVID-19 and its Repercussions for Pakistan

Abstract

This paper highlights the socio-economic challenges of COVID-19 that is putting threat not only on the individuals but also all of the institutions of the state and especially for the Government. Pakistani’s survival is at risk as in the country’s social and economic fabric were effecting significantly by COVID-19. Initially, Government of Pakistan has announced a fiscal incentive package of 1.2 trillion as part of its immediate response to this pandemic but financial uncertainty, fear of job loss, food insecurity, and vaccine scarcity are some major challenges that mounting the fear among individuals of the state. In a try to comprehend the havoc effect on the socio-economic fabrics, we summarize the effect of COVID-19 on individual aspects of the economy by focusing on society, individual liberties, education, economy, and medication. It is analyzed that COVID-19 has compromised every aspects of human life and yet there danger is there to overcome. The study proposes that the short-, medium-, and long-term policies are required to revitalize the socio-economic challenges and uplift the human development.