Poverty Alleviation in Pakistan: Moving Beyond Band-Aid Solutions

Hamariweb  |  Jan 30, 2023

Poverty Alleviation in Pakistan: Moving Beyond Band-Aid Solutions

Poverty remains a persistent issue in Pakistan, affecting millions of individuals and families. Despite the country’s economic growth and development efforts, poverty rates have remained high, particularly in rural areas.

A major contributing factor to poverty in Pakistan is limited access to education and job opportunities, particularly for women and marginalized communities. Corruption and unequal distribution of resources also play a role in perpetuating poverty.

The government has taken steps to address poverty, such as implementing poverty alleviation programs and launching initiatives to promote financial inclusion and job creation. However, these efforts have been criticized for being insufficient and not reaching those in need effectively.

NGOs and international organizations have also been active in providing aid and support to poverty-stricken communities, such as through providing access to education, healthcare, and employment training.

Efforts to combat poverty in Pakistan must be sustained and expanded, with a focus on addressing the root causes of poverty and promoting inclusive economic growth. Only then can the country make progress in reducing poverty and improving the standard of living for its citizens.

Currently Pakistan has been facing high inflation rates in recent years due to various factors such as increasing costs of imports, devaluation of the Pakistani Rupee, and a surge in demand for essential goods. The government has taken measures to control inflation, such as reducing spending and increasing interest rates, but the situation is still challenging.

Pakistan’s economic woes are exacerbated by ongoing political insecurity, which will worsen the situation. In Pakistan’s case, the IMF’s terms require nonpayment of oil subsidies in the absence of additional revenue generation. As a result, there is no relief for consumers in this regard, but any decrease in global prices can be passed on to the user. In the case of gas, almost all available gas on the global market has been pre-booked by Europe, Japan, China, and India until this winter due to delays in concluding long-term LNG deals over the last four years.

The revival of the IMF package and an improvement in the external environment should halt the rupee’s fall, resulting in lower imported inflation. Floods and political uncertainty, on the other hand, will make the situation unpredictable. However, only fundamental structural reforms can move the economy toward long-term growth, poverty alleviation, and social welfare.

The post Poverty Alleviation in Pakistan: Moving Beyond Band-Aid Solutions appeared first on Hamariweb.com News.

Visit to news source webpage
More News
More News