Karachi, July 30, 2023 (PPI-OT): Former Vice President of FPCCI Atif Ikram Sheikh said on Sunday Pakistan is losing the war against poverty while neighbouring countries are winning this war and they have been reducing poverty successfully. People in Pakistan are continuously getting poorer while people in India and Bangladesh are getting out of poverty, he said. Per capita income in Pakistan has fallen to $1,550, while per capita income in India has reached $2,210 and Bangladesh has reached $2,660, he added.
Atif Ikram Sheikh who has also served as President ICCI and Chairman PVMA said in a statement issued here today that Pakistan ranks 99 out of 129 countries in terms of hunger and there is a possibility of further degradation. An international organization has warned that by 2030, forty-six countries, including Pakistan, will not be able to achieve sufficient success in reducing hunger, he informed. Atif Ikram Sheikh said that millions of people in Pakistan are not able to eat enough food due to inflation which is a big challenge.
The business leader said that last year's floods, political conflict and the decline of the economy have made the situation very serious, while the debts of 77 billion dollars have to be paid in three years, which will prove to be a big problem. He noted that the value of the rupee, production, exports and remittances continue are falling, while electricity and gas are becoming more expensive, which has broken the back of the people. The WFP estimates that an average Pakistani household spends more than 50% of its monthly income on food. As a result, events such as floods can have calamitous effects on households across the country.
According to the World Bank, there are several changes that Pakistan needs to implement to deal with the pressing issue of hunger and food scarcity. The Government of Pakistan needs to “address food insecurity in rural and urban areas through multi-sectoral operations.” These operations need to make markets more accessible to both producers and consumers and to reduce institutional inequality in sectors such as agriculture. In these circumstances, Russia has terminated the contract allowing Ukraine to export grain through the Black Sea, which will increase hunger, poverty and anxiety in the whole world, including Pakistan, he warned.
For more information, contact:
Atif Ikram Sheikh
Ex. Chairman PVMA, Former VP, FPCCI,
Former President ICCI, Former President HCCI,
Tel: +92-51-4437597, 4440772
Fax: +92-51-4440773
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