Pakistan’s poverty rate likely to remain at 42.4pc, with 10mn facing food insecurity

Islamabad: The poverty rate in Pakistan is likely to increase to 42.4 percent in the current fiscal year and another 1.9 million people will fall into poverty, and about 10 million people in rural areas may suffer from food insecurity.

According to the World Bank's Poverty and Equity Report and Development Update Report on Pakistan, the Pakistani economy is stable, and Pakistan's economic growth rate is likely to be 2.7 percent in the current fiscal year.

According to the report, the poverty rate in urban areas in Pakistan is 22.8 percent and 49.6 percent in rural areas. The poverty rate at the official level is different and is 25.4 percent this year, and is likely to be 24.8 percent next fiscal year.

The report says that the industry and services sectors declined in the first half of the current fiscal year. Despite a decrease in inflation, people's purchasing power is decreasing.