Public survey by IPSOS shows 79pc say that ‘country is heading in wrong direction’
A consumer confidence survey shows a dismal performance where inflation, unemployment, increasing poverty, and the burden of taxes are most tense issues.
A consumer confidence survey shows a dismal performance where inflation, unemployment, increasing poverty, and the burden of taxes are among the top worrying issues.
Ninety-one percent of respondents were not in a state of purchasing a car or home in December 2019. This number stood at 90 percent earlier in August 2019.
There were four significant aspects for an answerer, as 81 percent considered increasing inflation as the most worrying concern. 79 percent of the population is unemployed, poverty is increasing by 56 percent, and 55 percent burden of taxes as major anxious issues in line with results of a survey undertaken in December 2019.
About 79 percent of respondents said that the country was putting efforts in the wrong direction, so there was no hope of any improvement in their lives over the next six months. While only 21 percent said, the 6-month future course was on the right path.
IPSOS Global Market Survey
A global market research firm surveyed Pakistan from both rural and urban populations with the same sample size undertaken in August 2019. Managing Director Abdul Sattar Babar told the startling findings of the survey with the media by stating that 31 percent of respondents had witnessed losing the job by themselves. Their relatives or someone of their acquaintances in the past year mainly because of severe economic conditions.
Nearly 30 percent of population respondents who considered unemployment as the top worrying issue in Pakistan. 29 percent examine higher inflation, 11 percent were under the burden of taxes, and 6 percent faced rising poverty.
This indicates that 76 percent of population issues are related to the worst economic situation. Interestingly, only 2 percent of respondents considered corruption, bribery, and nepotism as the major tensed issue in Pakistan. The same case applies to media, as only 2 percent of respondents found that decreasing freedom of speech and censorship was a significant issue. Only 4 to 3 percent of respondents considered terrorism and increasing the prices of electricity as a substantial issue. Power load shedding as a vital issue was considered by only 2.
Report of IPSOS Survey
The survey for December and August 2019 showed that 81 percent considered increasing inflation as the number one issue. While 79 percent found unemployment as the second major issue.
When the survey asked the respondents whether they were satisfied or unsatisfied with the way things are going in Pakistan, only 4 percent said they are delighted, while 40 percent were very dissatisfied.
When they were asked about the current economic situation, only 3 percent found the situation very satisfactory, but 40 percent were very unsatisfied. Most alarmingly, 79 percent of respondents found that the country was heading towards a wrong direction over the next six months,
The survey found that the average global consumer index stood at 48.5, while in Pakistan, it was on the much lower side and secured 32.8 indexes indicating that it was almost 16 indices more inferior than the global average.
Comparison with other Countries
In comparison with BRICS countries such as Brazil, Russia, India, Turkey, China, Pakistan’s performance is quite low on the current economic index, expectation index, investment index, and jobs index.
The survey showed that the results of Pakistan compared with different regions, including the Asia Pacific, the Middle East/North Africa, G-7 countries and BRICS. Pakistan’s performance was close to the lower side and stood at the lowest ebb among all global and regional economies.
Pakistan’s national index stands at 32.8 while the worldwide average was 48.5, Asia Pacific 52, the Middle East/North Africa 50.3, G7 48.4, and BRICS 51.6, indicating that Pakistan is at the bottom from all the emerging and regional economies of the globe.