Ipsos survey-66% Pakistanis thinks that country is not heading in right direction

 Inflation, unemployment, additional taxes and poverty are the major issues of concern for majority of Pakistani people 

In its latest survey, Ipsos, a Paris-based market research and consulting firm, showed that the respondents think the country is moving in the wrong direction as consumers fear the economy is likely to become weaker in the next six months.

The respondents feel that inflation, job insecurity and additional taxes are the top three most worrying issues faced by the country at the moment.

The Ipsos has released its latest survey on consumer confidence index survey on September 06. The survey has revealed that more people (33%) are now considering the direction of the country is right compare to last survey. In the last survey just 22% people was thinking that country is heading in the right direction and 78% were considering the country is heading in wrong direction.  This number has decreased to 66% in latest survey. 

Majority of people still consider inflation, unemployment, increased taxes and  poverty are the major issues of concern.  They are worried about increased job insecurity and economic situation.     

Ipsos’ Pakistan consumers’ confidence index increased by 9 points when compared to last year, approaching its highest level since 2019.Pakistan has gained some momentum after June’20 but it is still significantly lower the global average.

Key National Insights of the survey

Only 1 in 3 Pakistanis considers that the country is heading in the right direction. It’s highest positive sentiment in last 2 years. Not to forget; acute majority 66% still think otherwise

Personal financial issues have been top concerns for Pakistanis consistently, since Aug. ’19

While inflation remains on top, but the number of Pakistanis who call it a top concern have decreased over the past one year

Coronavirus, burden of additional taxes and interference of state departments in each other matters; are top 3 concerns which increased in last one year.

1 in 4 Pakistanis rates its current personal financial situation as strong, ever highest read since Aug. ‘19 However, one-third still consider it weak, and one half expecting it to be even weaker in next 6 months

1 in 5 Pakistanis rated Pakistan’s economic situation as strong; again most ‘optimistic’ in last 2 years. Caution here that 1 in 3 still believe it as weak, and more than half foresee it getting worse in next 6 months

Overwhelming majority, 3 in 4 Pakistanis continue to be less confident about their job security. However, for the first time since Aug.‘19, over 20% Pakistanis now feeling confident in their job security.

2 in 5 Pakistanis reported witnessing themselves or people known to them personally losing their jobs in the past one year; this situation was even worse a year ago.

3 out of 4 Pakistanis are now feeling less confident about their ability to save money and invest in their future, However 26% of Pakistani are more comfortable which is at its highest level since 2019.

Thinking in comparison to a year ago, 4 in 5 Pakistanis are feeling less comfortable for purchasing major items like cars, homes etc. This percentage was 97% in June’20

Similarly, 78% Pakistanis are feeling less comfortable while purchasing other household items. Bit of improvement since June’20, when 94% were not comfortable doing so

                                                                      Khalid Bhatti 

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