ISLAMABAD: The high cost of living in Pakistan’s capital city is forcing many rural residents to return to their hometowns, according to a report by Pakistan Today.
A surge in inflation, energy prices, currency devaluation, and halted imports has resulted in Pakistan experiencing a 50-year high of 31.5% inflation, ranking the country as the 17th most expensive in the world.
As a result, landlords in Islamabad have increased rent by 20% to 50%, making it challenging for residents to afford to live in the city.
Fayyaz Chaudhry, a Gujrat resident working in Islamabad, stated that his landlord increased his rent from Rs 18,000 to Rs 30,000 per month.
When Chaudhry refused to pay, he received a one-month notice to vacate the premises. Unable to find an affordable rental, Chaudhry sent his family back to Gujrat while he stayed in a bachelor hostel.
Master Riaz, a landlord who owns three houses in Ghauri Town, stated that he had no choice but to increase rents to cover his expenses amidst the rising cost of essential items, stressing the need for the government to address the rampant inflation crisis.
A real estate businessman explained that the housing crisis in Islamabad is further exacerbated by the increasing urban population and migration from rural areas. Unfortunately, the situation is unlikely to improve any time soon.
The sources noted that the capital’s rural residents are struggling to make ends meet as high rents and inflation force them to return to their hometowns.
