New Delhi: Every second person in Pakistan now lives below the poverty line, according to a World Bank report. According to the report, 48 percent of Pakistanis earn less than $3. The $3 threshold for breaking out of poverty in Pakistan has been set. By 2025, approximately 44 percent of people were on the BPL list. Within a year, the number of poor people in Pakistan has increased by approximately 4 percent.
According to the World Bank, one in two people in Pakistan now lives below the poverty line. This figure comes at a time when the Pakistani government is claiming to attract investment to alleviate poverty.
Why is the number of poor people increasing?
The World Bank says that Pakistan’s economy has failed to recover since the COVID-19 pandemic. Several efforts were made to improve the situation, but the Pakistani government failed. Subsequent floods have further damaged Pakistan.
Political instability is also a significant factor. Pakistan’s Balochistan, Khyber, and PoK regions have been in turmoil for a long time. This has had an impact. The report states that Pakistani companies are not focusing on product and innovation.
The World Bank projects a 6.4 percent increase in the poverty rate between 2018-19 and 2024-25. According to the report, Pakistan has the second highest poverty rate in the world.
Increase in people’s spending recorded
Meanwhile, public spending has also increased. The Pakistan Bureau of Statistics states that a Pakistani family spends an average of $9 per day on food and accommodation. With an average family size of six, the daily expenditure per person is $1.50. Previously, this figure was around $1.
In response to rising inflation in Pakistan, the government bank recently decided to convert 10 rupee notes into coins. Items in Pakistan are almost unavailable for less than 10 rupees.
