KARACHI: Many countries in the world have income disparities but we have too much income disparity; therefore the poverty is rising continuously, said Ateeq ur Rehman, economic & financial analyst.
He said on the other hand inflation is at the peak here. We had 40% poverty in Pakistan. Towering raise in utility tariffs is pushing hundreds of thousands of average income earners below the poverty line. It has brought down the majority middle class to lower class, he said.
Moreover, we have huge wastage of resources as according to estimates an individual on average waste 65-kg food per annum. He said we as a national waste 36 million tons of food per annum. When talking of disparity and inflation, we instead of controlling are increasing them day by day.
He added that we need to have a policy framework to overcome our poverty, focus on earnings and reinforcing the economy. We need to mobilise $25 billions of FDI in Pakistan mostly in agriculture sector to become “the Big Picture“ of world’s largest producer of rice, cotton, wheat and other natural resources.
In past, Pakistan has survived massive economic challenges like Covid crisis and floods. Pakistan has the potential to do great again, said Ateeq. The acquisitions of skills and investment in human capital, particularly, should be the prime objective of the authorities and government, he advised.
Copyright Business Recorder, 2023
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