World Bank on Pakistan: About 34 percent of Pakistan’s population is forced to live on a daily income of only $3.2 or 588 rupees. Giving this information, the World Bank said that the biggest challenge before the new Finance Minister of Pakistan, Mifta Ismail, who is facing a cash crisis, is to control inflation.
poor spend half of their earnings on food and drink
The World Bank’s biennial report of Pakistan’s Development Update said that rising inflation has badly affected poor and vulnerable families. These families spend a major part of their budget on food items and energy. The ‘Express Tribune’, in a report released quoting the bank, said that the poor spend half of their budget or earnings on food items or food.
Inflation rate in Pakistan is estimated to be 10.7 percent
The World Bank said that inflation in Pakistan is expected to average 10.7 per cent in the fiscal year 2021-22 against the target of eight per cent. It is estimated to increase to an average of 10.7 percent compared to living on. According to the report, inflation in Pakistan is the highest in the region of South Asia. Meanwhile, the International Monetary Fund has kept the growth forecast for Pakistan’s economy unchanged at 4 per cent for the current financial year.
