Noreen Ahsan earns more than twice the average wage in Pakistan, but school principals can’t afford to pay for schooling, so they home-school their daughters and force them to pass final exams approved by the London Education Council. He said that he had no choice but to delay.
Ahsan and his wife, who run a car service business, like most of their population of 220 million, are struggling with the cost of living as the government devalues ​​the currency and removes subsidies to unlock the last installments. In an effort to cope with the increase in financial aid, the International Monetary Fund (IMF) was needed to prevent the economy from collapsing.
Pakistan is going through an economic crisis, the fifth IMF bailout since 1997, but economists say the latest measures, including higher taxes and higher fuel costs, have hurt educated professionals. Many say that they cut back on essential items to meet living expenses.
make noise
Ahsan told Reuters: We don’t eat out anymore. We no longer buy meat and fish. We use less paper towels and detergents. We don’t like We do not give gifts. Sometimes we yell at each other.
The government-mandated minimum wage is about 25,000 rupees, but inflation in February was 31.5 percent, the highest in 50 years, and many people earning much more than that said their monthly salaries were less than 25,000. I say it won’t last. .
Abi Salari, one of Pakistan’s largest fintech firms, has allowed about 200,000 subscribers to withdraw their wages in advance, but transactions have grown by more than a fifth each month over the past three months. According to Abhi CEO Umair Ansari, most people spend two-thirds of their money on groceries in a rush to stock up before prices rise again.
“Unfortunately, Pakistan’s poor have nothing to lose,” said Obaid Surli of the Pakistan Institute for Sustainable Development Policy, an economic think tank. “Educated professionals . . . reduce their purchasing and saving power and find everyday consumption out of reach or out of reach.”
Ramadan, which started this week, is likely to put more pressure on prices. Analysts expect inflation to rise to at least 35 percent in March.
The rates of watermelon is Rs.200 a kg, banana Rs,200 a dozen and Dates are Rs 600 a kg. This is what this government has given to the people during this Ramazan while the isntitutions are just spectators.
