COVID-19 and Its Impact On business and Textile Industry in Pakistan

Abstract

The worldwide breakdown of COVID-19 has affected immensely on the national and international economy. When most of the countries started to shut down their trade and all other business activities within and outside the country with an increase in the death rate then companies started striving for the least profit or in some cases just met the break-even point of balance. USA faced huge rate of unemployment 14.70% in 2020 than their previous years. In the mid of March Government of Pakistan decided to impose “smart lock down” in whole country as a first precautionary step to deal with this pandemic. (Global Entrepreneurship monitor, 2020)