MM News

KARACHI: The Gallup Pakistan and Dun & Bradstreet are reported to have surveyed only 2,000 people out of the population of more than 220 million to compile their report on Consumer Confidence Index report, published by government-affiliated media group on Friday.

The report suggested that seven out of ten Pakistani citizens report a drop in their savings, which indicates how negatively the rising cost of living has impacted their ability to save.

The majority of respondents in the study indicated anxiety about diminishing funds owing to inflation. In its survey, over 73 percent of Pakistanis expressed dissatisfaction with their shrinking savings, compared to 60 percent who were miffed by the decline in savings with debilitating inflation.

The report was published at a time when more than 10 people have lost their lives in their struggle to get only a big of flour from free distribution points in Punjab and Khyber Pakhtunkhwa.

Along with this, the percentage of people who said their savings had increased in the previous survey decreased from 7 to 5 percent. The number of respondents who claimed in the last study that inflation had no effect on their savings also decreased by 4%. Only 21% of respondents to the most recent study said their savings were unaffected by inflation.

According to the survey report, a substantial portion of respondents in the most recent study did not anticipate an improvement in savings, with 51% of Pakistani people expressing dismay over better saving possibilities.

The study revealed a 7% fall in the number of respondents who had expressed optimism about increasing their savings in the previous survey. Only 17 percent of people now expect their savings to increase.

Also, the percentage of people who were unconcerned about the prospect of future increases in their savings increased from 19 percent in the previous study to 23 percent.