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    November 14, 2016

Detail

 

POVERTY

Poverty can not be described. it can be felt .it is one of the peculiar problem with which rasiuos countries of the world particular third world are suffering .According to vicious circle of poverty, less developed nations are trapped by their own.
It has been estimated that a new poverty line is estimated using cost of basic needs approach by taking patterns of consumption of reference group. According to CBN methodology 29.5% of the population is estimate to live below poverty line during FY2014 (Fiscal year 2014) poverty, due to which nation income of Pakistan is low leads to lower employment opportunities for those who are seeking for jobs but result is unemployment causes low savings and low investment.
The government is fully committed to follow a sustain poverty reduction strategy and to allocate a minimum of 4.5% of GOP for social poverty related expenditure BISP (benazir income support program) is continuing to eradicate extreme poverty through provision of cash transfers.

Pakistan poverty Alleviation Fund also provide assistance in micro credit, water and infra structure, education, drought mitigation.

There are various types pf obstacles which are needed to reduce the poverty line in Pakistan some of them are stated such as: Increase in saving, control on rapidly growing population, use the advanced technology.
We should use the modern methods of production in all sectors of economy, check the inflation. In developing countries like Pakistan , the purchasing power of the people is low due to high rate of inflation. There should be a price stability in country. Optimum use of natural resources, reduce the burden of internal & external debts, BOP should be in surplus, enhance the economic growth rates. 

So, the government should start projects and needs to install those industries which are related to labour intensive.
It is major obstacle in way of economic development. Without its economic development is impossible. Government should adopt labour intensive technologies to remove unemployment and poverty.



Ayesha Javed.
University of Karachi

 

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