Elimination Of The Poor

Poverty%20In%20Pak.jpgThe government has disbursed Rs 10.48 million out of Rs 46.209 million allocated for zakat to deserving people in the Islamabad Capital Territory (ICT) for the current financial year. Two installments worth Rs 14.350 million and Rs 11.699 million have been released from the zakat fund for distribution among the needy out of which Rs 10.48 million have been disbursed so far.

Poverty is ugly, everyone agrees, but what has been done to clean this ugliness from our society is just not enough. It seems that our society has by default accepted low quality of living, unavailabilty of health and basic needs as their destiny.

Pakistan has made a significant achievement in poverty reduction, but the outcome has not been consistent and sustainable over a long period of time.

Senior Public Resource Management Specialist of the Asian Development Bank (ADB) Dr Emma Fan discussed in a Workshop on “Structural Issues in Poverty Reduction” Organized by the ADB and PRSP Secretariat Ministry of Finance that there is a close correlation between economic growth and reduction in absolute poverty; and due to this reason, poverty may persist in Pakistan unless strong economic growth is sustained. The absolute poverty would stay relatively high by 2015.

Furthermore, there is risk of a slowdown in both private consumption and investment in rising interest rates environment that may force households and business to cut back on their spending and investment plans.

In a longer term perspective, growth looks vulnerable owing to a number of macroeconomic and structural weaknesses in the economy; the most important being low savings and investment, weak human capital base, lack of industrial and export diversification, low agriculture productivity, in adequate physical infrastructure and weak institutions and governance.

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