Rising poverty

Disastrous floods have worsened the economic situation of Pakistan by an exponential degree. The economy is on a crawl while inflation is hitting record levels. The aftermath of the disaster is revealing immense humanitarian and economic costs that will further restrict growth and recovery as the country reels from a debt crisis in the light of upcoming commitments with international lenders.

The consequence of all this has yet again trickled down the social ladder as the World Bank, in a recent report, estimates that six to nine million Pakistanis will drop below the poverty line in the near future. The rate of poverty, according to the report, has surged from 2.5% to 4% as a direct consequence of floods that have resulted in loss of jobs, livestock, harvests, houses and closure of schools — besides the spread of diseases and rise in food costs.

Development projects have also been halted in the wake of the disaster. Pakistan is witnessing the swelling up of the lower class and the fracturing of the middle class as 20% of the 220 million population are already under the grip of severe poverty while the rest are struggling to cope under the back-breaking inflation. This will further exacerbate inequality as dwindling resources will be shored up by the elite. The report also talks about reversing the negative socio-economic effects, but it must be understood that such widespread disaster is irreversible and has an irrevocable effect on the socioeconomic fabric of the country.

Instead, we must look towards “rebuilding” systems and institutions that are able to sustain and withstand such damages. More than this, many rebuilding projects should be initiated on multiple fronts to deal with immediate effects as well as long-term changes. Simultaneously, relief to the suffering masses is of utmost importance. There is no immediate solution to alleviate poverty at such a massive scale.