Bad news for Pakistan amid war-like situation with India as 1 crore Pakistanis to….
NEW DELHI: After the Pahalgam terror attack, shocking news is coming from all sides for Pakistan. After the IMF reduced the growth rate estimate, now the World Bank has given a big warning to Pakistan.
The World Bank has warned that about 10 million people of Pakistan may face severe food insecurity during the current financial year. Along with this, there is a possibility of a sharp increase in the level of poverty.
Blow after blow to Pak
Along with giving this warning of increasing poverty in Pakistan, the World Bank has earlier reduced Pakistan’s economic growth forecast to 2.7 percent in its report. For this revision, the global body has cited strict economic policies in Pakistan. According to the news of The Express Tribune, the World Bank has also said in its report that the Shahbaz Sharif government of the country may also fail to meet its annual budget deficit target and Pakistan’s debt burden is estimated to increase in proportion to GDP.
Impact on 1 crore Pakistanis
According to the report, the World Bank has said that due to climatic conditions, the entire agricultural production in Pakistan is expected to be affected and the production of major crops like rice and maize may be badly affected. The World Bank said that because of this, about 10 million people in Pakistan (mostly people in rural areas) could experience high levels of acute food insecurity in FY25.
It is worth noting that this latest report of the World Bank again focuses on those issues which are not often discussed in official meetings. These issues are food insecurity, poverty, unemployment and declining real wages. It says that in fact the major sectors for the poor such as agriculture, manufacturing and low value added services are experiencing negative growth, due to which the real wage rate has also remained stagnant.
19 lakh people will go into poverty
This World Bank report has issued another warning for Pakistan. It says that with a population growth of about 2% in the country, about 1.9 million (19 lakh) more people are expected to go into poverty this financial year. Not only this, the employment-to-population ratio in Pakistan is 49.7%, which especially indicates that labor market participation is extremely low among youth and women.
