74% of Pakistan’s population is unable to arrange two meals a day, forced to do two jobs
India’s neighboring country Pakistan has made its condition miserable. The condition is so bad that about 74 percent of the country’s urban population is not able to meet their monthly expenses. The situation is such that people have to do 2 jobs. The economic crisis is spreading so fast that the figure which was 60 percent in May 2023, has now increased rapidly and has gripped three-fourths of the population.
People are also buying food items in less quantity
ARY News report citing a survey by Pulse Consultant said that Pakistan’s urban population is in big trouble. About 60 percent of the people are not only reducing their expenses but are also buying food items in less quantity. Apart from this, 40 percent of the people have started asking for loans from family and friends to run the expenses. This survey has revealed that 10 percent of the people are forced to do 2 jobs.
More than half the population is not able to save anything
This survey was conducted in 11 cities. People between the ages of 18 and 55 were included in the survey. It has been found that more than half the population is somehow managing to spend. These people are not able to save anything. Foreign debt on Pakistan is increasing. It is expected to reach 446.61 billion dollars in the year 2029. The government is breaking down while paying its interest.
Pakistan is waiting for a bailout package from IMF
Pakistan was expecting the International Monetary Fund (IMF) to give them a bailout package. But, in exchange for giving more help to the country, the IMF has put such conditions that Pakistan is finding it very difficult to accept. The government’s fiscal deficit has remained at around 7.3 percent in the last 5 years. China’s debt is also increasing on Pakistan. It has demanded from China that it should be given relief from debt for 8 years. The situation is such that he has to take more loan to repay the loan.
