Country’s poverty rate stands at 25pc

The findings of a World Bank report state that the poverty rate in Pakistan stood at 25.3 per cent in 2024, showing an increase of seven percentage points compared to 2023, with about 13 million additional people falling into poverty. Moreover, in addition to the projected increase in poverty, poor households face disproportionately higher welfare losses and get pushed deeper into poverty, according to the report ‘Poverty Projections for Pakistan: Now casting and Forecasting’ released by the World Bank. The analysis shows that since 2019, the last year when data to estimate poverty and inequality levels was available, Pakistan has experienced experience large macroeconomic and natural shocks. However, the absence of new household survey information limits the ability to access the implications of the different shocks on household welfare to formulate appropriate responses.