Pakistan Economic Crisis: We get evidence of how bad Pakistan’s economic condition is through videos and pictures coming from the neighboring country. In some videos, people have also been seen fighting for rotis. However, now even the World Bank has given its statement on the deteriorating condition of Pakistan. The World Bank has warned Pakistan that it is at the peak of poverty. 40 percent of the population of the neighboring country is below the poverty line.
According to the report of Financial Times, this warning has been issued at a time when preparations are being made to hold general elections in the country in a few months. The purpose of the policy under which the World Bank has warned is to tell the new government in which direction it needs to work the most. The biggest challenge before the new government of Pakistan will be to bring the economy back on track and bring people out of poverty.
Last year 1.25 crore people went below the poverty line
The World Bank has given suggestions to Pakistan because poverty is increasing in Pakistan. Last year 1.25 crore Pakistanis went below the poverty line. Their situation has become such that now they have to yearn for two meals a day. Statistics show that poverty has increased from 34.2 percent to 39.4 percent. This means that people are moving below the poverty line every day. It is no longer possible for them to even buy essential items.
Poverty will not be reduced with the current method
Pakistan is currently facing serious economic and human development crises. From this it is very clear that the country has been unable to control poverty today. This is a problem which is going to be a challenge for Pakistan in future. World Bank Director for Pakistan Naji Benhassin said that this is the time when Pakistan should change its policies, so that economic challenges can be dealt with.
He said Pakistan is facing many economic difficulties including inflation, rising electricity prices, serious climate crisis and inadequate public resources for development. Naji also said that poverty cannot be eradicated in Pakistan through the development model currently being used. Pakistan’s per capita income is the lowest in South Asia.