Impact of COVID-19 on Remittances and Economic Well-Being: A Case Study of District Peshawar
DOI:
https://doi.org/10.55737/qjss.954175659Keywords:
Covid-19, Pandemic, Remittances, Economic Welfare, PeshawarAbstract
This study examines the impact of the COVID-19 pandemic on remittances and the economic well- being of households in district Peshawar. Due to rapid spread of the pandemic nationwide, the governments of almost all countries, in response to this, ordered a countrywide lockdown. Most migrants are from low and middle-income countries. Therefore, they are the ones severely affected. For this purpose, data was collected from the remittances recipient households from the district of Peshawar. To find the impact of a decline in remittances on the overall quality of life, six models were estimated using the Ordinary Least Square method. Thus, after estimation, it is concluded that the Covid-19 pandemic has a major impact on remittances and has a substantial impact on the economic well-being of the household through the decline in remittances. According to the results of the study, it is suggested that the government should develop that type of long-term strategy. That is, by application of these particular policies, the utmost affected clusters get income sustenance for some period of time.
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