SAARC Chamber Proposes Joint Coronavirus Fund For SAARC Countries

ISLAMABAD, (UrduPoint / Pakistan Point News - 22nd Mar, 2020 ) :SAARC Chamber of Commerce and Industry's (CCI) President-designate Iftikhar Ali Malik Sunday, making a strong pitch for SAARC nations to jointly combat coronavirus, proposed setting up a COVID-19 emergency fund with India, Pakistan, Sri Lanka and Bangladesh with initial amount of USD 5 million each as the best way to deal with the pandemic is by coming together, and not growing apart.

In a statement, Iftikhar Malik said while Maldives, Nepal, Bhutan and Afghanistan should contribute USD 2 million in this proposed coronavirus fund and this is important for South Asian countries to focus on collaboration, not confusion, and preparation, not panic.

He said this could be based on voluntary contributions from all of us. "Looking ahead, we could create a common research platform, to coordinate research on controlling epidemic diseases within our South Asian region," he said, adding "we share common regional concerns on COVID-19. While hoping for best, we have to prepare for worst." He said it was the time now that South Asian countries come forward with commitment and determination setting an example to the world, and contribute to a healthier planet putting all kinds of skirmish on the backburner as corona virus is a common threat for human beings.

He said the good thing is that governments in South Asian countries are implementing measures to stop the virus from spreading any further, but they face many difficulties in containing the pandemic. "Unlike Western countries that have a proper quarantine mechanism in place at airports and other places � and medical facilities available to patients while all countries in South Asia lack preparedness to tackle the situation.

"A possible spread of the coronavirus in these countries could prove to be catastrophic," he added.

Iftikhar Ali Malik said coronavirus has become the real threat for both human beings and economy and some nations and territories that had seen success in controlling the virus or slowing its arrival, including South Korea, Hong Kong and Taiwan, have seen new spikes, amid fears people returning from abroad are importing the virus.

He said the government would make all efforts to combat and will actively coordinate for necessary emergency funding from both the local and international sources to ward off any negative impacts of coronavirus on livelihoods, jobs, especially the industry.

Appreciating Prime Minister Imran Khan for taking exigent measures against coronavirus in Pakistan, Iftikhar Malik said the good thing is that the government was making all-out efforts to deal with the deadly virus. He also urged all segments of the society to come forward and play their role in containing the spread of novel coronavirus.

He said like other countries in the world, Pakistan's initial economic losses in different sectors of the country's economy have been estimated at Rs1.3 trillion. These losses are going to be incurred on account of drop in the GDP growth because of reduction in services sector, including airline business and others, FBR's revenue loss, massive decline in imports, exports, reduction in remittances, disruption in food supplies and other fronts.