Pak people increasingly disappointed with unaffordability: Survey

INTERNATIONAL DESK: There has been a large increase in the number of people disturbed over their personal financial position from 27pc in March 2021 to 42pc now who consider it ‘weak’, alongside 87pc people of Pakistan who cannot afford groceries and other household items.

More than half of Pakistanis, 55pc people, are not confident of any improvement in the financial outlook of the next six months. The IPSOS consultant survey found out this prevailing perception during its survey of 1,048 people, conducted from Feb 24 to March 1 2022.

There has been a large increase, in the number of people, describing their financial position as ‘weak’ from 27pc in March 2021 to 42pc now, eight pc consider it strong and 55pc in between. More than half of the Pakistanis, 55pc people are ‘disappointed’ about any improvement in the financial outlook for the next six months,18pc are hopeful, while 27pc fall in between.

The pollster found a substantive reduction in the global consumer confidence index of consumers from 36.9 last year to 28.6 with a difference of 8.3 points. Compared with the global confidence level of 48.7 points, the confidence of Pakistani customers is less than 20.1 points.

China boasts consumer confidence of 69.7pc and is at the top in the region, followed by 61.4 points of India ranks second. A large volume of 87pc respondents cannot afford groceries and other household items, but 13pc expressed confidence in making such purchases.

The pollster also found 87pc feeling hesitant to purchase cars and houses, but 13pc found no problems with these high valued purchases. Against this backdrop, 84pc respondents of the current survey find it difficult to save any money or to be able to invest it anywhere, but 13pc confronted on the difficulty in doing so. (The News)