Public sentiment about the overall direction of the country has hit its ever lowest under the Pakistan Democratic Movement (PDM) led incumbent government, with 88 percent of Pakistanis believing the country is heading in the wrong direction, revealed the “Consumer Confidence Index Survey” published by Ipsos.
According to “Consumer Confidence Index Survey” published by Ipsos, a French research outfit published the report on June 08, 2022.
With a 3-percentage point increase, inflation remains the top issue for Pakistanis alongside unemployment. Load-shedding and interference of state departments in each other’s matters have also seen an increase in the last quarter.
The perception about the current economic situation has hit rock bottom, with only 3 percent of Pakistanis considering it ‘strong’. The report says that 60 percent of the public expects the economy to remain weak for the next 6 months.
Only 5 percent of Pakistanis claim their financial situation to be ‘strong’, those who decisively call it ‘weak’ have increased by 18 percent in the last year.
The report further revealed that job security perception has hit ever lowest in 3 years, currently at 10 percent only. Half of the participants reported witnessing themselves or people who are known to them losing their job in the past year. In the current situation, only 9 percent of Pakistanis feel confident to save money and invest.
In comparison to a year ago, 9 in 10 Pakistanis are not feeling comfortable purchasing major items like cars and homes. The last time such a situation occurred was during the Covid-19 lockdown. Similarly, 9 in 10 participants said that they were feeling uncomfortable while making other household purchases.
Recent political uncertainty has negatively affected Pakistan Consumers’ Confidence Index as it has gone down by 2.6 points in the last 3 months and the situation is expected is to become worse, with the current government trying its best to handle the situation.