At least 80 percent of Pakistanis have the opinion that the country is moving in the wrong direction. The top concerning issues for the citizens are unemployment and inflation since Aug 2019.
However, as compared to the last year, 86 percent of Pakistanis do not show confidence about job security. A market research company, Ipsos conducted this study titled “Consumer Confidence Survey”
During the survey, the interview was taken from 1,048 people across the country, from which 67percent were males and 33percent were females. It said urban areas included 86percent of the respondents while 37percent were of the age group from 31 to 40 years.
Read more: 73% Pakistanis believe country heading in the wrong direction, finds survey
When people were asked about the country’s progress, four in five respondents said that it was heading in the wrong direction and the condition had deteriorated by 7 percent in the last year.
Moreover, the most worrying matter for 44 percent of the respondents was inflation, 16 percent Pakistanis believed it was unemployment while 11 percent thought growing poverty was the major issue.
Other problems of concern included the burden of additional taxes, coronavirus, the falling value of the rupee, increase in electricity prices, corruption, and terrorism.
The study further unveiled that 8percent of the people rated the current state of the economy as ‘strong’. 41percent conclusively called it ‘weak’ were and the ratio increased by 14 percentage points in the previous year.
When questioned about the economic situation after six months, 50 percent of the respondents had the point of view that the economy will become weaker. The remaining 50 percent of people also said that their economic condition will be weaker.
Imitating on the previous year, 50 percent of respondents claimed to personally know someone who lost their job due to economic conditions. They believed the situation was somewhat better a year ago.
Additionally, the report revealed 84 percent of Pakistanis were not self-assured regarding their ability to invest in the future, 85 percent were less comfortable in making household purchases, and 85 percent were not assured to make a huge purchase.
The survey also claimed that compared to the same month last year, Pakistan Consumers’ Confidence Index had decreased 8.3 points which were the lowest among comparable evolving markets.
