50pc population living below poverty line: Economic Survey
An estimated 37,30,000 individuals of the workforce are unemployed, the survey said.
ISLAMABAD (Dunya News) – Economic Survey on Monday revealed that the inflation rate in the past fiscal year increased by 8.6% and an estimate of thirty seven lakh thirty thousand of individuals of the workforce are fulltime unemployed, Dunya News reported.
According to the details, over half of the country’s population is living below the poverty line. Federal Finance Minister Ishaq Dar said that the previous governments are responsible for the inflation. He said that an estimate of forty eight lakh individuals will be facilitated in the upcoming fiscal year.
The inflation rate rose by 8.6% in the past financial year, making every eatable item including meat, pulses more expensive.
According to Federal Bureau of Statistics, inflation rate rose by an average 8.6% during the fiscal year July 2013 to May 2014.
During this time, the prices of mung beans hiked by 35%, non-slaughtered chicken by 20%, Masoor Dal by 19% and wheat products by 17%.
The prices of milk saw a 14% increase, postal service 23% and education prices rose by 16%.
The prices of electricity, garments and medical expenses rose by 16%. The prices of tomatoes were reduced by almost half during the past one month whereas the prices of onions decreased by 10%, wheat by 9%, flour by 6% and eggs by 8%.
Federal Bureau of Statistics projected that the inflation rate will come down to a single digit by the end of the current fiscal year.
Pakistan Muslim League Nawaz (PMLN) led government failed to achieve all its targets except the industrial sector during the past fiscal year.
A loss of billions of dollars in foreign trade was noted along with the failure to meet tax collection target.
Reportedly, agriculture sector also had to face a big blow.
