In Pakistan, there is a growing concern about a significant number ofpeople, around 20 million, going below the poverty line. Unemployment,leading to a 10% annual increase, is causing 3 million individuals to jointhe impoverished class each year. The middle class has reduced from 42% to33%, according to reports by the United Nations.
UNDP report suggest that economic instability and a decrease in purchasingpower are major contributors to this disparity. The middle class isshrinking, primarily focused on the welfare of others rather thanthemselves, while the elite class seeks to maintain dominance by purchasingthe intellect of individuals from the middle and lower classes.
Economist Hafeez Pasha attributes economic instability and a decline inpurchasing power as significant factors contributing to this issue.Excessive wealth accumulation is intensifying poverty, with 3 millionpeople joining the impoverished class annually due to a 10% annual increasein unemployment. The rich spend 20-30% of their income on consumption,while the middle and poor classes allocate 70-80% for their expenses.Unfair wealth distribution is making the rich even richer.
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If these trends persist, in a few years, an additional 20 million peoplemay be forced to live below the poverty line.