Introduction:
Poverty is the condition when there is deficiency of material possessions or money. poverty is undeniable factor which is present in most nations. It is a rejection of opportunities and choices which results in violation of human pride. Poverty is lacking capacity to effectively participate in society that is feeling deprived of food and cloth, not having basic education or medical facilities etc. poverty also means powerlessness and insecurity.
Poverty is defined as “Deprivation in comfort which includes poor income or low wages and failure to attain the basic goods and services which are necessary for survival. Due to poverty, people live with poor health and education, in access to clean water, sanitation facilities, insufficient security and poor opportunity to make one’s life better.Poverty is a curse which is present around the globe. According to Pakistan’s Planning Commission (2011), poverty rate has jumped from 23.9 to 37.5 percent in the last three years. The commission has estimated that in 2005 there were 35.5 million people living below the poverty line but in 2008 their number increased to over 64 million. According to the 2011 statistics of the World Bank, global poverty ratio is increasing. The ongoing global financial recession, especially of USA and the EU countries has pushed millions of people around the world into deeper poverty. Almost 40% of 107 developing countries are highly exposed to the poverty. Pakistan is ranked among the 43 countries who are most exposed to poverty. Poverty is widespread in Pakistan mainly in rural areas. Nearly two- thirds of population of Pakistan lives in rural areas that depend on agriculture for their livelihoods. They do not have basic requirements fulfilled such as clean water, sanitation, food, health care and other social services.
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Pakistan is an under developed country facing economic downturns which directly and indirectly give birth to many social factors among which poverty is the most important.. Eradication of poverty is very important as its presence causes hurdles in the path of growing economy. Among numerous factors causing poverty, there are few factors i.e. low literacy rate, population pressure, inflation and unemployment. Pakistan is a developing nation. Political and economical conditions of Pakistan are pushing the economy towards decline. After Mumbai attacks, because of international pressure, this country went through financial crisis. Political disturbance also pushes the economy of Pakistan to depend more on International Monetary Fund (IMF).
Pakistan is facing many long-term challenges which include increasing investment in education, healthcare, infrastructural development, decreasing poverty, increasing employment opportunities through Foreign Direct Investment (FDI) etc and electricity production, and reducing dependence on foreign donors as well.
Inflationary pressure:
Inflation in Pakistan is one of the major causes of growing poverty. When the prices of commodities goes up, the purchasing power of people reduces which disable people to fulfil their needs. Thus it reinforces poverty rate.
Low Literacy Rate:
We can define the relationship of poverty and illiteracy by saying when people are illiterate they won’t be able to get employed, thus they are forced to stay at lowest levels of the work force which leads them to remain in poverty and vice versa. Therefore illiteracy reinforces poverty or we can say that poverty leads to lack of education.
The Business plan on Homelessness: Poverty and Homeless People
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To get education is a right of every human, it is not a privilege. The literacy rate is eradicating gradually in Pakistan. It should be the prime objective of the government to seriously take immediate measures to increase literacy rate and make sure that every child rising in Pakistan is acquiring education. If the government of Pakistan failed to increase literacy rate it will lead to poverty and other socio economic problems. Due to non gaining of education, manpower will lack training which is very important in every field as many companies are transforming themselves according to latest technology. This will create unemployment and thus their standard of living will decline resulting in poverty.
Population Pressure:
There is an obvious impact of population growth on poverty in Pakistan. Poor families have a burden of bearing expenditure of their large number of children with meagre incomes. The more the family members there would be; the more the expenses.
Unemployment:
When we talk about poverty, we definitely think about unemployment. Poverty occurs when people don’t have good employment from where they could get enough income to spend their lives accordingly. We can say that when there is unemployment, poverty exists. Researchers have shown that poverty leads to lack of educational opportunities which boosts the unemployment rate.
Unemployment occurs when people are jobless. Whenever any country is in economic backdrop unemployment is created. Unfortunately Pakistan is also a victim of this factor. The rate of unemployment is rising every year. Soon after the recession in past few years, unemployment has increased substantially. Recession had adverse effects on industrial and other sectors which have resulted in close down of many industrial units. Unemployment is classified into three categories:
Frictional unemployment:
Frictional unemployment refers to workers who are simply moving between jobs
Structural unemployment:
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Structural unemployment refers to workers who are in regions or industries that are in persistent slump
Cyclical unemployment:
Cyclical unemployment refers to workers who are laid off when the overall economy suffers a downturn.
In Pakistan unemployment is of cyclical nature. Worsening of law and order situation has resulted in unemployment because there has been great decline in foreign investment of Pakistan during past few years. As Pakistan is an agricultural country, this sector can create many job opportunities. But unfortunately this sector is in great problem. Water shortages, technological changes, earthquake and flood have added to the problem. Industrial sector is mainly affected by power failures due to which this sector is also operating at low profit or at no profit no loss situation. Most importantly growing population is major factor that has resulted in unemployment.
Conclusion:
Thus, it shows that Pakistan is facing a lot of trouble due to poverty and problems such as low literacy, un employment , growing population and inflation occurs which gives a negative impact on our country’s economy.
