World Bank data recently released by ISLAMABAD has shown that nearly 44.7% of Pakistan’s population now falls below the poverty threshold after revised global poverty thresholds were implemented, as set forth by lower middle income countries such as Pakistan – including revised thresholds that set a $4.20 daily per person daily benchmark, up from its prior of $3.65 threshold. Arabnews.com +4; Facebook; Samaa TV all offer updates; Nation.com.pk +5 and Brecorder+5.pk all provide updates; see Arabnews for updates as well. For further updates visit arabnews +4; arabnews +5/; Brecorder+5.pk +tribune+5 This adjustment could impact more than 107 million Pakistanis who earn less than Rs1,200 daily and thus fall below the poverty line, as well as raising the extreme poverty threshold from $2.15 to $3 per day for 16.5% of population — approximately 39.8 million people–which represents a dramatic increase from 4.9%. arabnews.com +5 geo.tv +10 nation.com.pk +8 Tribune.com.pk +8 profit.pakistantoday.com.pk. The World Bank revised poverty figures based on 2021 purchasing power parity (PPP) data, to provide more accurate global comparison of poverty levels. Christina Wieser, Senior Poverty Economist for the World Bank explained that much of the increase in extreme poverty figures can be attributed to individuals previously earning above an old threshold now falling below its new one – something profit.pakistantoday.com.pk (+5) reported as well as The News’ +5 score as reported on Brecorder.com (+5) and Dawn +3 for further coverage by each publication +5. No matter the international benchmarks used for global assessments, Pakistan’s poverty line remains unchanged. Based on the 2018-19 Household Income and Expenditure Survey (HIES), its official poverty rate stands at 21.9%; however experts caution this data may not accurately represent current realities since it does not take into account recent economic challenges, including COVID-19 pandemic or 2022 floods. Brecorder.com Geo.tv; TimesofKarachi.pk ; Dawn; Profitpakistantodaycom; plus TheNewscom The World Bank emphasized that updated figures do not necessarily signify a decline in living standards but instead provide an accurate basis for international comparisons. Najy Benhassine, Country Director for Pakistan at the World Bank noted “These revisions help put Pakistan’s poverty levels into perspective, underscoring efforts to reduce vulnerability and build resilience. timesofkarachi.pk +4 As soon as this year is out, the World Bank plans to release a comprehensive Poverty, Equity and Resilience Assessment of Pakistan that will offer greater insight into poverty dynamics while informing policy decisions for strengthening economic resilience and reducing inequality. timesofkarachi.pk +2 geo.tv +2 Tribune.com.pk. +25% Increase to total spending from previous month (+2% increase from original amount spent.
