The condition of Pakistan, which lives on debt, is miserable, poverty broke the record of 11 years; The minister himself told
New Delhi, (IANS). Poverty in Pakistan has reached its highest level in the last 11 years. According to an official survey released by Planning Minister Ahsan Iqbal, about 29 percent of the population is living below the poverty line.
At the same time, according to the report of The Express Tribune, about 7 crore people are living in extreme poverty. This figure is based on the monthly poverty line of Rs 8,484, which is considered the minimum amount required to meet basic needs.
First survey since 2018-19
Preliminary findings for financial year 2024-25 show that poverty has increased by 32 per cent since 2018-19, when the last survey was conducted.
The poverty rate in 2019 was 21.9 percent. This rate increased to 28.9 percent in the first year of the current government of Prime Minister Shehbaz Sharif.
According to the report, this is the highest level since 2014, when poverty was recorded at 29.5 percent. The situation of income inequality has also worsened rapidly. The survey shows that inequality has increased to 32.7, the highest level in 27 years.
Highest poverty rate in 21 years
The last time inequality was close to this level was in 1998. Pakistan is also facing the highest unemployment rate in 21 years at 7.1 percent.
The Planning Minister acknowledged that economic stabilization measures under the International Monetary Fund (IMF) program contributed to increasing poverty.
He said withdrawal of subsidies, fall in exchange rates and high inflation increased the cost of living. Natural disasters and slow economic growth also played a role in pushing more people into poverty.
The report states that for the first time in 13 years, the trend of poverty reduction has reversed. Rural areas were more affected, where poverty increased from 28.2 percent to 36.2 percent. Urban poverty has also increased from 11 percent to 17.4 percent.
The situation has become worse in all the states. Poverty in Punjab increased from 16.5 percent to 23.3 percent in seven years. In Sindh it increased from 24.5 percent to 32.6 percent, while in Khyber Pakhtunkhwa the rate increased from 28.7 percent to 35.3 percent.
According to the report, Balochistan remains the worst affected state. Almost half the population here is living in poverty and the rate has increased from 42 percent to 47 percent.
The report also states that in the last financial year 2019, it decreased from Rs 35,454 to Rs 31,127, which is a decline of 12 percent.
During the same period, household expenditure also declined by more than five percent. Although income increased nominally, high inflation outstripped earnings, reducing purchasing power.
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