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Pakistan makes impressive progress in reducing poverty

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ISLAMABAD:(APS)MARCH 13,2016-World Bank says Pakistan has made impressive progress in reducing absolute poverty and improving shared prosperity.

The WB in its recently published report “Pakistan Country Snapshot” said percentage of the population below the national poverty rate has fallen from 34.7 per cent to 12.4 per cent in  2011.

The report said poverty reduction has been stronger in Khyber Pakhtunkhwa and Sindh provinces.

It said that Pakistan has already achieved the first Millennium Development Goal by more than halving between 1991 and 2011 the proportion of people whose income is less than 1.25 dollar a day.

The report further said growth in the real per capita consumption of the bottom 40 percent was a respectable three per cent between 2006 and 2011.

The Bank report further said that Pakistan’s investment is expected to increase to 15.4 percent of GDP next year on account of operationalization of China Pakistan Economic Corridor related projects.

These gains might have been supported primarily through remittances, faster than expected recovery of the agricultural output and exports following the floods, and broad economic growth. While Pakistan’s overall level of inequality remains steady and relatively low.

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