Pakistan’s current economic development model is not helping in reducing poverty; income growth has stalled, and poverty reached an 8-year high in 2024
Daily Dawn News Desk, Dawn TV Report
Geneva: The World Bank’s report “Reclaiming Momentum Towards Prosperity: A Review of Pakistan’s Poverty, Equity and Resilience” further revealed that Pakistan’s emerging middle class, which constitutes 42.7 percent of the total population, is “struggling to achieve full economic security.”
The report said that the middle class is also deprived of basic amenities such as safe sanitation, clean drinking water, affordable energy and housing, which indicates “weak public service delivery” in Pakistan.
A worrying fact is that 37% of Pakistan’s youth aged 15 to 24 are neither employed nor in education or training, leading to population pressure and an imbalance in the labour market.
According to the report, which was covered by several Pakistani media outlets, “Pakistan’s development model, which initially helped reduce poverty, has now proven inadequate, and poverty has been increasing since 2021-22.”
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