74% Pakistanis ‘unable’ to meet expenses; 10% ‘doing two jobs’

Islamabad, August 10

Amid economic distress, the financial difficulties faced by urban Pakistani households have soared by 14 per cent over the past year. As a result, a staggering 74 per cent of the urban population in the country being unable to meet their monthly expenses with their current income, a news channel reported.

This represents a significant increase from May 2023, when 60 per cent of households reported financial struggles, according to the latest study by Pulse Consultant.

Of those currently struggling to make ends meet, 60 per cent have had to cut back on essential expenses, including groceries, while 40 per cent have resorted to borrowing money from their acquaintances.

Furthermore, 10 per cent of the people have taken on part-time jobs to supplement their income, as per ARY News. The survey of Pakistan, a country with roughly 240 million population, also highlighted that more than half, 56 per cent, of those who are just managing to cover their expenses, are unable to save any money after meeting their basic needs.

The findings are based on a telephonic poll conducted from July to August, involving over 1,110 respondents from the 11 largest cities in Pakistan, the report said.

Last month, the Shehbaz Sharif-led Pakistan government unveiled a three-year economic plan, which aims to increase the share of provinces in the federal budget from 39.4 per cent to 48.7 per cent by 2027.

The plan also highlights the country’s debt burden, with total debts expected to reach PKR 79,731 billion by the end of the current fiscal year. Local loans are expected to increase by PKR 7,671 billion, while foreign loans will rise by PKR 818 billion. — ANI