The economy has greatly been damaged because of the lasting effect which the coronavirus outbreak has had over multiple countries around the world. In order to stop the spread of the Covid-19 outbreak, many countries across the world started implementing very tough measures.
Factories around the country have been put under strict lockdown, bringing a total halt to major industrial production chains. All sectors including the trading of garments, leather and leather products, apparel sector, cosmetics, printing industry, medical equipment, computers and parts and electronic products are toiling to face this pandemic and come out on top.
Facing this dire situation the prime minister had stated earlier that a few of the factories can be opened on special arrangement during this Ramadan. If everything is kept closed up then it would be quite difficult to emerge unscathed in case of the economy.
Industries are going through
many challenges as coronavirus
stopped activities in country
Already there are arrangements going to starts production at various factories based on protection against the virus. Economists opined that the government needs a new plan to overcome the situation and must reopen export-oriented factories in phases with maintaining health standard.
This is easier said than done. There is a massive amount of people who work in factories and as such it is easier for the virus to spread from a single infected person to an entire work force. Thus it is also assumable that proper categorization of industrial areas can bring a positive impact.
Experts have said that FBCCI, BGMEA and other sectors should work together to prepare sector-based health protocols to the resume factories. Only when the factories can be restarted can the economy be somewhat stable.
If the situation continues the country’s export earnings will rapidly decreased by more than 84 percent. Many companies may go bankrupt being unable to bear the losses. Industries are going through many challenges as coronavirus stopped activities in country. As a result, more policy support and loan with low interest is necessary to overcome the losses.