The economic fall out from Corona is going to be massive. According to some experts, the economic impact of the contagion will be much more impactful than the biological impact. The world has gone into a state of suspended animation but only partially. Services that are considered essential are still on-going such as utility companies, pharmacies, grocery stores etc. whereas everything else has been brought to a near standstill by each country's respective government in order to contain the pandemic. This results in a dilemma. How do businesses and individuals alike pay for the essential services in the long run? The pandemic is heavily influencing demand (as can be seen with the sharp reduction for oil globally), supply chains and workforce mobility. Travel bans and changes in consumer behavior are affecting sectors such as logistics, aviation, hospitality, tourism and consumer goods.
Each sector will be impacted in a different way and their path back to recovery will also differ. At this juncture, the team at RSM Pakistan can assist you in strategically responding to this major distruption. We can, with your indept knowledge of your business and our expertise, develop a plan and help you execute actions to mitigate risk and minimise the negative effects of the coronavirus fallout.
We can support through:
- Business Continuity Planning to run operations
- Perform Rapid Operations Risk Assessment to identify situations and the ramifications on key functions, processes and activities
- Develop various Financial Models to determine the impact of the disruption. The models will incorporate different levels of activity along with different timelines.
- Assist in scaling down operations efficiently and optimally all the while ensuring that key resources are fully utilized.
- Human Capital Strategy to support the critical operations and responding to absences
- Develop an Action Route Map to the different scenarios and define policies, communications to manage People, Customers, and Supplier during disruption and force majeure
- Strategic advisory over all and on re-channeling resources. Advisory on jump starting the business post-Covid-19 lockdowns.
Contact us today for more insights and support:
Hamid Masood - Managing Partner - FSB Office ([email protected])
Adnan Zaman - Partner In-charge - KHI Office ([email protected])
Naveed Abbas - Partner In-charge - ISB Office ([email protected])
Inam-ul-Haq - Partner - LHR Office ([email protected])
Ahmed Saleem - Executive Director - KHI Office ([email protected])
Abdullah Wiqar - Director RAS ([email protected])
Talal Zahick - Director Tax and Corporate Affairs ([email protected])