KARACHI – The Coronavirus outbreak has directly affected every sector of the economy, from the stock market to the economic crisis as it is difficult and it is hoped that the government will control it, but the government will improve on the situation after the improvement.
You also have to consider it seriously and adopt a strategy that will not spread the rumor once the situation improves, as the adverse effects of the economy affected by Corona will be reflected in austerity once the situation is controlled. The financial losses to the entities involved. These views are expressed by the Former Chairman FPCCI Standing Committee on Fashion & Chief Executive Officer of Walkeaze Brands (Footwear and Handbags), Shahzad Mubeen, gave a special talk.
He said that the domestic economy was already in a bad state and the entire deficit was in full swing. The government will have to rethink its economic policies and come up with a clear plan to remove the negative effects that may affect the business of the industry or the business community. Responding to a question, Shahzad Mubeen said,
“We have always been keen to introduce new styles in fashion, but it may be impossible to do so in a lockdown situation. Still, they are determined to introduce new styles of footwear.”
“With the improvement of the situation, the difficult times of the footwear and handbags industries will start as they will have less time to work on the season,”
He responded to a question. In view of the convenience of consumers, the prices of footwear and handbags have dropped significantly and the purpose of this reduction is to make them In response to a question, he said that the high-interest rate of the State bank is affecting the business even though the State bank has reduced interest rates in recent days but there is room for further reduction in interest rates.
I think the economy can be supported only by bringing interest rates into the low side of single-digit. In answer to a question, he said that unfortunately, the business cost in Pakistan is much higher than in other countries which is why Not only the local market is being affected, but also the global market is facing severe competition from the Pakistani business community. If declared government business incentives with a reduction in tax rates in the coming days will be possible to compensate for damages to the economy in recent months.
