Pakistan’s economy has been struggling for years, with high levels of debt, a large trade deficit, and political instability. The COVID-19 pandemic has only made matters worse, with the country’s economy contracting by 0.5% in the fiscal year 2020-21.
Professionals in Pakistan, including doctors, engineers, and accountants, are feeling the impact of the struggling economy. Despite their qualifications and high-paying jobs, many are struggling to make ends meet.
The cost of living has gone up so much that even with a good salary, it’s difficult to save anything, said Dr. Saba Khan, a Karachi-based physician. I have to carefully budget every month just to make sure I can pay my bills and put food on the table.
The rising cost of living is due to a number of factors, including high fuel prices, electricity tariffs, and food prices. The Pakistani rupee has also weakened against the US dollar, making imports more expensive and driving up the cost of goods.
The government has taken steps to address the economic crisis, including seeking a bailout from the International Monetary Fund and implementing austerity measures. However, these measures have not been enough to turn the economy around, and many professionals are still struggling to make ends meet.
We need more support from the government to help us through this difficult time, said Nida Ali, a Karachi-based accountant. The rising costs are putting a strain on our finances, and we need help to make sure we can keep up with the rising prices.
In conclusion, professionals in Pakistan are struggling to cope with the rising cost of living as the country’s economy continues to teeter. The government must take more decisive action to address the economic crisis and provide support to those who are struggling to make ends meet.
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