The number of people suffering from poverty in the country has increased to 9.5 million, the alarming report of the World Bank
According to the report of the World Bank, more than 200 million Pakistanis became poor in just 1 year, the number of people suffering from poverty in the country has increased to 950 million. According to the details, the World Bank has revealed that 9.5 million Pakistanis are currently living in poverty. The World Bank also revealed on Friday that poverty in Pakistan has increased to 39.4% in the last financial year, due to poor economic conditions, more than 200 million people have been trapped in the trap of poverty. Living the life of.
The Washington-based World Bank has released a multi-stakeholder policy draft for Pakistan's next government, including low human development, unsustainable financial conditions, agriculture, energy, and private sector regulation. Reforms in the sectors have been declared a priority for the next government.
Measures to immediately raise taxes to 5 percent of GDP and cut spending to about 2.7 percent of GDP have been proposed to put the unsustainable economy on a prudent fiscal path. The measures are mostly proposed in sectors which are considered as 'sacred cows' in Pakistan.
Tobias Haq, an economist of the World Bank regarding Pakistan, said on the occasion of the release of the policy draft that the World Bank is deeply concerned about the current economic situation of Pakistan, Pakistan is facing serious economic and human development crises, Pakistan is currently a It is at a point where it desperately needs a change in policy. World Bank Country Director in Pakistan Naji Benhasin said that this is an inevitable opportunity for policy change for Pakistan.
In response to a question, he said that we hope that the current economic situation in Pakistan will be understood, but the question is whether the change in policies will be understood by all political parties, business organizations, civil society and financial accountants. Will it happen or not? We can only suggest measures, but Pakistan has to do it itself.