Last Updated on October 11, 2023 by Fiza Khurram
Researchers Muhammad Hasham Khalid and Muhammad Junaid Ahsan shed light on the issues encountered by Small and Medium Enterprises (SMEs) in Pakistan in a detailed study performed in the midst of the global pandemic. The study, titled “Impact of COVID-19 on Small and Medium Enterprises: A Study Conducted in the Context of Pakistani Industries,” examines the pandemic’s enormous economic ramifications for underdeveloped countries like Pakistan.
The study, which was conducted utilizing a questionnaire to collect data from diverse SMEs, reveals the multidimensional impact of COVID-19 on these enterprises. The findings emphasize the significant economic costs associated with implementing pandemic mitigation policies and methods. Material shortages, diminishing demand for services and products both locally and globally, loan repayments, order cancellations, savings deficits, and cash difficulties are all issues that SMEs face.
Compliance with COVID-19 Standard Operating Procedures (SOPs) entailed additional expenditures due to government-imposed restrictions on staff numbers at companies. According to the study, SMEs were not prioritized in government programmes aimed to battle the epidemic, aggravating their difficulties.
The researchers argue for specific government policies that boost SME growth in Pakistan while also aligning with COVID-19 prevention efforts. This report is a necessary call to action, recognizing the critical role that SMEs play in Pakistan’s economic fabric and encouraging authorities to incorporate their demands into the larger pandemic response.
