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PDM-led incumbent govt taken over at a time when public sentiment about overall direction of country hit its ever lowest: IPSOS Survey

ISLAMABAD, June 14 (SABAH): Recent political uncertainty has negatively affected Pakistan Consumers’ Confidence Index as it has gone down by 2.6 points in the last 3 months. Pakistan Democratic Movement (PDM) led incumbent government has taken over at a time when public sentiment about overall direction of the country has hit its ever lowest, with 88% Pakistanis thinking country heading in the wrong direction.

According to the results of the Consumer Confidence Index Survey conducted by non-governmental organization IPSOS in Pakistan, with a 3-percentage point increase, inflation remains the top issue for Pakistanis. Load shedding and interference of state departments in each other’s matters have also seen an increase in the last one quarter.

According to the results of the survey, unemployment and inflation are top issues concerning Pakistanis consistently since August 2019.

‘Current economic situation’ perception has hit rock bottom, with only 3% Pakistanis considering it ‘strong’. Moreover, 6 in 10 expect it to remain weak in next 6 months.

Only 5% Pakistanis claim personal financial situation ‘strong’, those who decisively call it ‘weak’ have increased by 18 percentage points in the last one year. Moreover, two-third fear it would stay even weaker in upcoming 6 months.

According to the result of the survey, job security perception has hit ever lowest in 3 years, stands at 10% only. Half of Pakistanis reported witnessing themselves or people known to them losing their job in the past one year.

In the current situation only 9% Pakistanis feel confident to save money and invest in their future. Constant decrease since September 2021. In comparison to one year ago, 9 in 10 Pakistanis are not feeling comfortable for purchasing major items like cars/homes. Last time such situation occurred was during covid-19 lockdown.

Similarly, 9 in 10 Pakistanis are feeling uncomfortable while purchasing other household purchases.