Occupational Safety, Health & Environmental (SHE) Issues Linked to Erosion of Systems and Replacement of Machines

Abstract

Managing market risk under unknown future shocks is a critical issue for policymakers, investors and professional risk managers. These shocks can be external to the firm, like demand conditions or conditions in the market as well as internal shocks like inefficiencies or issues of governance in a business entity. More important is the health of machines and viability of systems that are in place in a firm that might threaten the safety of the workforce, tend to take the organizational management towards expensive litigation and eroding in the future of its brand position. “According to recent estimates released by the International Labor Organization (ILO), each year 2.78 million workers die from occupational accidents and work-related diseases (of which 2.4 million are disease-related) and an additional 374 million workers suffer from non-fatal occupational accidents. It is estimated that lost workdays globally represent almost 4 percent of the world’s GDP” (International Labor Organization (ILO), 2019) Problem statement A large number of firms in Pakistan are noncompliance of governance guideline especially in Safety, Health and Environment (SHE) and therefore the present study will take as SHE as its basis to investigate the future issues in the industrial sector of Pakistan.