Financial struggles among urban households in Pakistan have increased by 14% over the past year, with a staggering 74% of the urban population now unable to meet their monthly expenses with their current income.
This rise is significant compared to May 2023, when 60% of households reported facing financial difficulties, according to the latest study by Pulse Consultant. Among those currently struggling, 60% have had to cut back on essential expenses like groceries, while 40% have borrowed money from friends and family. Additionally, 10% have taken on part-time jobs to supplement their income.
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The survey, conducted in a country with a population of approximately 240 million, also found that more than half (56%) of those just managing to cover their expenses cannot save any money after meeting their basic needs.
These findings are based on a telephonic poll carried out by Pulse Consultant from July to August, involving over 1,110 respondents from the 11 largest cities in Pakistan. The participants ranged in age from 18 to 55 years, as disclosed by Kashif Hafeez Siddiqui, CEO of Pulse Consultant, during an appearance on ARY News’ program “Sawal Yeh Hai.”
In response to the ongoing economic challenges, Pulse Consultant plans to conduct a second round of detailed urban-based studies later this month. This upcoming survey will assess the impact of inflation on purchasing and consumption habits, with a larger sample size of over 1,800 respondents from 17 major cities across Pakistan.
