The COVID-19 pandemic took us all by surprise. As of August 30, it has spread to 188 countries and affected millions of lives. None of us thought that we would stay within our homes, some of us had to let go of our jobs, and the economy took a huge hit.
Our economy has been disastrously affected. Our RMG sector has suffered the most as an order of around 3 billion dollars has been canceled. All of these have affected the workers and other industries that work closely with the RMG sector like packaging companies, transport companies, etc. Around 2 million RMG workers will be directly affected by this. As the RMG industry is the biggest earner of foreign currency, if this industry and sectors which are dependent on the RMG industry fail, our economy will be in a troublesome situation. But this is not the only loss our country is facing. According to the World Bank, Bangladesh will lose 20% of its remittance, which is equivalent to almost 4 billion dollars this year alone. This pandemic is a crisis upon us.
This pandemic has taught us that to survive a financial crisis. It is crucial to have savings. There might have been moments when we bought something thinking that we will save a little later.
Things we can do to face this moment of crisis –
● This pandemic has taught us that to survive a financial crisis. It is crucial to have savings. There might have been moments when we bought something thinking that we will save a little later. However, as the pandemic keeps spreading and our quarantine period extends, we have realized how important it is to save money. Emergency funds are the most crucial thing at this moment. Our employment is as valuable as blessings at this moment. If we look around, we will be able to find many people who have lost their jobs due to the immense loss we are facing. If you want to start saving up right now, you can use the City Alo banking service.
● You can start a business of your own to be financially better off if you have also been affected by the pandemic. City Alo is a dedicated woman banking system under City bank, and its goal is to empower women by financially assisting them. They will offer you various types of loans that will allow you to do something for yourself.
It is crucial to stand by each other for overcoming this difficult situation. Let us stand by the less privileged people around to overcome this pandemic and its after-effects.
