Economic distress

As per the latest report from the World Bank, poverty in Pakistan has surged significantly, reaching an alarming rate of 39.4 per cent in the fiscal year 2022-23. It is both distressing and alarming to witness the deteriorating economic conditions, with a staggering 12.5 million individuals falling into poverty during the previous fiscal year, pushing the total number of those living in poverty to a staggering 95 million. The dire economic situation has led to a sharp decline in household incomes, severely impacting the middle-income demographic. Urgent government intervention is imperative to rectify this distressing situation.

However, the caretaker government appears to be largely indifferent to the economic distress, lacking a clear vision for short-term improvements. The caretaker PM, in a speech on August 15, pledged to continue the policies of the outgoing PDM government, which, regrettably, are perceived as having contributed to the economic crisis.

Hussain Siddiqui

Islamabad