No latest figure on poverty prevalence

ISLAMABAD: The Economic Survey 2018-19 has not incorporated any latest figures on prevalence of poverty in Pakistan.

However, the official document of government envisages reduction in poverty from 24.3 per cent population in 2015-16 to 19 per cent till terminal year under the PTI led regime

in 2023. The Economic Survey states that the government envisaged reduction in poverty on the basis of two different methodologies. Under the methodology of reducing Cost of Basic Needs (CBN) based poverty, the government wants reduction in poverty from 24.3 per cent in FY 2016 to 19.0 per cent by 2023 while reducing multidimensional poverty headcount from 38.8 per cent in FY 2015 to 30.0 per cent during the plan period of 12th Five Year Plan from 2018 to 2023.

The 12th Five Year Development Plan (2018-23) also envisages a new direction towards a conducive macroeconomic environment with efficient financial markets, pro-poor taxation system, better governance and effective accountability that will provide resources and enabling conditions for poverty reduction strategy to bear fruits in the long run. The other three pillars of the Poverty Reduction Strategy are i) human resource development, ii) employment generation, and iii) integrated social protection system with appropriate safety nets for the poorest. The government has laid down the following important Targets/Milestones for the plan period:

Approval of the national framework for developing social protection policies to guide provinces in policy formulation; Reducing Cost of Basic Needs (CBN) based poverty from 24.3 per cent in FY 2016 to 19.0 per cent by 2023 while reducing multidimensional poverty headcount from 38.8 per cent in FY 2015 to 30 per cent during the plan period; alignment of provincial social protection policies according to the provision in the national framework for developing social protection policies; Creation of database for vulnerable groups to ensure better targeting of poor and enhancing Corporate Social Responsibility (CSR) initiatives to reduce poverty in consultation with corporate and private sector.

A CSR framework would be compiled in collaboration with all stakeholders to expand outreach of CSR programmes for poverty reduction.