SOCIO-ECONOMIC IMPACT OF COVID-19 ON MARGINALIZED GROUPS IN PAKISTAN

Abstract

Since the eruption of COVID-19, the virus has been taking human lives and inflicting economies worldwide. The economic crisis has intensified global unemployment as the UN and the ILO reports are showing serious concerns. The financial experts estimated that the global economy was already depressing in the year 2018-19 with 1.9 percent; the lowest growth rate in a decade. The virus had further shattered it to -3.3 percent. Its impact in Pakistan is significantly harmful and economic growth was -1.3 percent in 2020. The weak healthcare system has further damaged the fragile economy. All spheres of life have been severely affected by the virus, but the low-income groups are more vulnerable. Prior to the outbreak of COVID-19, Pakistan was facing economic instability and the virus has intensified the situation, raising questions about the survival from the challenges, being faced by the low-income groups and how they have to cope with them. The objective of the study is to examine the socio-economic impact of COVID-19 on marginalized groups of Pakistan as the pandemic has deprived them of their livelihood. The study has applied the qualitative approach with analytical method. Looking at the empirical data, it seems that enslavement by the employees to vulnerable groups has been strengthened because of virus. The study concluded that the virus caused huge economic loss to low-income groups.