Karachi: Pakistan’s economic challenges have deepened as rising inflation has pushed 74% of the population into poverty, with many struggling to cover basic expenses. This is a significant increase compared to last year when 60% of Pakistanis reported not being able to meet their expenses. According to a recent report by Plus Consultant, the number of people facing economic hardships has risen by 14%.
Inflation has been particularly severe in essential sectors like electricity and gas, which have seen unexpected price hikes. The rising utility bills have led many people to find it increasingly difficult to balance their income and expenses. The report further highlighted that due to extraordinary inflation, 60% of urban residents have had to reduce their spending, while 40% have resorted to borrowing money to meet their daily needs.
The situation has also led to mental and physical stress, with 10% of Pakistanis being forced to take on multiple jobs just to make ends meet. Additionally, even those who have managed to cut down on their spending are unable to save anything, as their finances remain tightly stretched.
This ongoing economic struggle emphasizes the urgent need for targeted policies to combat rising inflation and improve the standard of living for Pakistan’s growing population.
