Despite the ravages of Covid-19 reducing Pakistan’s annual growth to 1 percent according to the World Bank, still local experts are optimistic. The landlocked nation has been able to weather the pandemic with nearly 900,000 cases.
The slowdown from its largest export destinations, the US, China and the UK left Pakistan needing resources to shire up its once booming textile and garment industry. Pakistan has been intent on becoming a Noteable international player in the market importing oil and mental fuel, industrial machinery and and electrical machinery to make it competitive.
An infusion of 2 trillion Rupee stimulus funds may be the boost Pakistan needs. The State Bank of Pakistan thinks so, projecting growth for 2020-2021 at 3 percent according to a report from Khaleej Times. Additionally, the World Bank has been determined to support Pakistan’s Covid fight with an influx of 153 billion dollars.
That infusion from the World Bank is likely due to a very large aversion to the Covid jab in the country after a pro immunization C I A operation in 2011. According to Medical News Today, Pakistan’s aversion to immunization came after a Guardian report revealed that the C I A used health workers to obtain DNA samples under the guise of administering Hepatitis B jabs. The operation was executed without the knowledge of participants or the Pakistan Health authorities in an attempt to nab Osama bin Laden. The World Bank cash infusion may increase vaccine numbers and help offset Pakistan’s 2 trillion rupee stimulus package.
Despite its challenges with sovereignty and the pandemic, Pakistan may be on the path to recovery. Currently it exports over 4 billion in Textile articles, 3.2 billion in cotton and 3 billion in apparel according to a 2019 Michigan State University Global Edge report. Pakistan has been able to negotiate major partnerships and renegotiated gigantic loans that have propelled the nation to market relevance.