A Template To Monitor The Impact Of Covid-19 On Pakistan’s Economy

The corona pandemic has brought us close to a global recession. Government of Pakistan should start to seriously assess the economic situation. We have compiled a template for monitoring this impact over the coming days, weeks and months, till this crisis is over. The template identifies the sectors/industry that could potentially be affected. In addition, we also provide the mechanisms involved in the process, and the indicators that can be used to monitor and gauge the impact. We may add here that it is not an exhaustive list and we will keep updating it as the situation evolves. Two Things Need to be Done Periodically for Each Sector/Industry Actual Loss: Calculate the loss that has already been borne by using data obtained from the affected sectors. Scenario Analysis: Since the country is just beginning to experience major losses in different sectors, scenario analysis may give us some idea of the potential loss to the economy. For instance, identify the share of each sector in the economy and then using elasticities and other parameters, we can estimate the loss for different scenarios in each sector.