Pakistani Economy
Pakistanis are struggling: Two-thirds of income vanishes on essentials as remittances keep them afloat, shows study
A Pakistani government survey has revealed that countrymen are spending two out of every three rupees on just two basic needs — food and electricity.
The expenditures increased at a faster pace than the incomes due to current economic pressure and rising cost of living, according to the Household Integrated Economic Survey 2024-25, released by the Minister for Planning Ahsan Iqbal on Thursday, reported by The Express Tribune.
According to reports, the survey was conducted after a gap of six years under pressure from the International Monetary Fund (IMF).
The report showed that inflation has eaten up people's hard-earned money, leaving only 2.5% in hand to spend on education.
The share of foreign remittances in household income has risen from below 5% to nearly 8%, according to the survey, the newspaper reported.
The contribution of gifts and assistance also more than doubled to 4.6%, "indicating greater reliance on informal support networks", stated the official report.
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