Pakistan has been reported to be a place which is dangerous for human life; it faces range of challenges from lack of the good governance to the inequality of the wealth. Poverty rises as consequences of these challenges, which Pakistan is facing severely as a whole, however according to annual report recently issued by the State Bank of Pakistan, population in the urban areas is poorer than that of rural areas.
This is as a result of the poor economic growth, in addition to the high influx of the population to the urban areas. The distribution of the resources in urban areas is highly skewed than those of the rural areas, in urban areas 60% of the sources are availed by 20% of the population, in contrast this is not the case in rural area. It is worth mentioning here that the traditional perception of the urban and rural divide on the basis of economic prosperity is no more application in recent times.
Since 2008, country is facing an economic growth at a pace as low as 3%, ever since economy has remained sluggish. Average economic growth remained at 3%, contrarily in order to absorb the high influx of youth it must be high enough. On the other hand the wide range of the unemployment has forced the urban population into poverty, additionally savings ratio of economy as a whole is vanished. As reported by the State bank of Pakistan, for the FY-13 the national savings declined to 13.8pc, for sure which is a very bad indicator.
These facts and the statistics are enough to have a true picture of our economy; government is required to take immediate measure which could at least initiate the economic revival. It must take serious measures in order to pursue high economic growth, to reduce poverty and in order to improve human development. For this reasons it needs to consult experts, rather than relying on self-proclaimed economic rainmakers, who have been replicating the past policies. This is how we can End Poverty in Pakistan.