IPSOS survey: 79 pc say country heading in wrong direction

[ejaz007]

IPSOS survey: 79pc say country heading in wrong direction

Listen

ISLAMABAD: Contrary to the government's claim about revival of economy, a consumer confidence survey shows a bleak performance where inflation, unemployment, increasing poverty and burden of taxes are among the top worrying issues.

91 percent respondents were not comfortable about purchasing a car or home in December 2019, as this number stood at 90 percent earlier in August 2019.

There were four major concerns/worrying aspects for respondents, as 81 percent considered increasing inflation as major concern, 79 percent found unemployment, 56 percent increasing poverty and 55 percent burden of taxes as major worrying issues in line with results of survey undertaken in December 2019.

About 79 percent respondents replied that the country was heading towards a wrong direction so there was no hope of any improvement in their lives over the next six months.

IPSOS, a global market research firm, conducted the survey in Pakistan for December 2019 from both rural and urban population with same sample size undertaken in August 2019 and itsManaging Director Abdul Sattar Babar shared the startling findings of the survey with the media by stating that there were 31 percent respondents who had witnessed losing of job by themselves, their relatives or someone of their acquaintances in last one year mainly because of worst economic conditions.

There are 30 percent individual respondents who considered unemployment as the top worrying issue in Pakistan, then 29 percent considered higher inflation, 11 percent burden of taxes and 6 percent rising poverty.

This indicates that 76 percent worrying issues were related to worst economic situation. Interestingly, contrary to the perception, only 2 percent respondents considered corruption, bribery and nepotism as the major worrying issue in Pakistan. Same thing applied to the case of media, as only 2 percent respondents found that decreasing freedom of speech and censorship was a major issue.

Only 4 percent and 3 percent respondents considered terrorism and increasing prices of electricity as major issues. Only 2 percent considered power load shedding as major issue.

It has changed altogether as few years back such survey showed that load shedding was the major issue before witnessing improvement with installation of new power plants.

The combined findings of the survey for December and August 2019 showed that 81 percent considered increasing inflation as number one issue, while 79 percent found unemployment as the second major issue.

When the survey asked the respondents whether they were satisfied or unsatisfied with the way things were going in Pakistan, only 4 percent said they were very satisfied, while 40 percent were very dissatisfied.

When asked about current economic situation, only 3 percent found the situation very satisfactory but 40 percent were very dissatisfied.

Most alarmingly, 79 percent respondents found that the country was heading towards a wrong direction over next six months, while only 21 percent said the 6 month future direction was on the right path.

The survey found that the average global consumer index stood at 48.5 while in Pakistan it was on much lower side and clinched 32.8 index indicating that it was almost 16 indices lower than global average.

In comparison with BRICS countries such as Brazil, Russia, India, Turkey, China, Pakistan's performance remained much lower on the current economic index, expectation index, investment index and jobs index.

The more worrying aspect of the survey showed that the results of Pakistan compared with different regions including Asia Pacific, Middle East/North Africa, G-7 countries and BRICS, Pakistan’s performance was on much lower side and stood at the lowest ebb among all global and regional economies.

Pakistan’s national index stood at 32.8 while global average was 48.5, Asia Pacific 52, Middle East/North Africa 50.3, G7 48.4 and BRICS 51.6, indicating that Pakistan was at the bottom among all emerging and regional economies of the globe.

https://www.thenews.com.pk/print/599832-ipsos-survey-79pc-say-country-heading-in-wrong-direction

 

[W.11]

only 4 percent said they were very satisfied

4 percent would be party supporters

regards

 

[wali87]

Well doesn’t take a rocket scientist to figure out where the country is headed. Everyone know this government is probably the worst in our country’s history. Zero batta zero.
Only thing they do seem to be good at is lying to the people better than anyone. The only gissa pitta response now have left is “pichlay 70 saalon ki bullshit, blame the previous ones’ typical lying politics of 80s, unfortunately people don’t get fooled so easily anymore by such crap while your jacking up prices of every single item in the country. I see a very very bad future of pti, imran khan.

Only a jiyala, in-denial type person would think our economy is going anywhere but down. Or of course an illitrate one

 

[The Accountant]

IPSOS survey: 79pc say country heading in wrong direction

Listen

ISLAMABAD: Contrary to the government's claim about revival of economy, a consumer confidence survey shows a bleak performance where inflation, unemployment, increasing poverty and burden of taxes are among the top worrying issues.

91 percent respondents were not comfortable about purchasing a car or home in December 2019, as this number stood at 90 percent earlier in August 2019.

There were four major concerns/worrying aspects for respondents, as 81 percent considered increasing inflation as major concern, 79 percent found unemployment, 56 percent increasing poverty and 55 percent burden of taxes as major worrying issues in line with results of survey undertaken in December 2019.

About 79 percent respondents replied that the country was heading towards a wrong direction so there was no hope of any improvement in their lives over the next six months.

IPSOS, a global market research firm, conducted the survey in Pakistan for December 2019 from both rural and urban population with same sample size undertaken in August 2019 and itsManaging Director Abdul Sattar Babar shared the startling findings of the survey with the media by stating that there were 31 percent respondents who had witnessed losing of job by themselves, their relatives or someone of their acquaintances in last one year mainly because of worst economic conditions.

There are 30 percent individual respondents who considered unemployment as the top worrying issue in Pakistan, then 29 percent considered higher inflation, 11 percent burden of taxes and 6 percent rising poverty.

This indicates that 76 percent worrying issues were related to worst economic situation. Interestingly, contrary to the perception, only 2 percent respondents considered corruption, bribery and nepotism as the major worrying issue in Pakistan. Same thing applied to the case of media, as only 2 percent respondents found that decreasing freedom of speech and censorship was a major issue.

Only 4 percent and 3 percent respondents considered terrorism and increasing prices of electricity as major issues. Only 2 percent considered power load shedding as major issue.

It has changed altogether as few years back such survey showed that load shedding was the major issue before witnessing improvement with installation of new power plants.

The combined findings of the survey for December and August 2019 showed that 81 percent considered increasing inflation as number one issue, while 79 percent found unemployment as the second major issue.

When the survey asked the respondents whether they were satisfied or unsatisfied with the way things were going in Pakistan, only 4 percent said they were very satisfied, while 40 percent were very dissatisfied.

When asked about current economic situation, only 3 percent found the situation very satisfactory but 40 percent were very dissatisfied.

Most alarmingly, 79 percent respondents found that the country was heading towards a wrong direction over next six months, while only 21 percent said the 6 month future direction was on the right path.

The survey found that the average global consumer index stood at 48.5 while in Pakistan it was on much lower side and clinched 32.8 index indicating that it was almost 16 indices lower than global average.

In comparison with BRICS countries such as Brazil, Russia, India, Turkey, China, Pakistan's performance remained much lower on the current economic index, expectation index, investment index and jobs index.

The more worrying aspect of the survey showed that the results of Pakistan compared with different regions including Asia Pacific, Middle East/North Africa, G-7 countries and BRICS, Pakistan’s performance was on much lower side and stood at the lowest ebb among all global and regional economies.

Pakistan’s national index stood at 32.8 while global average was 48.5, Asia Pacific 52, Middle East/North Africa 50.3, G7 48.4 and BRICS 51.6, indicating that Pakistan was at the bottom among all emerging and regional economies of the globe.

https://www.thenews.com.pk/print/599832-ipsos-survey-79pc-say-country-heading-in-wrong-direction

Guys is this surprising?

Dont we know that inflation was bound to happen as cheap imports that were taking away our employment and foreign currency reserves are no more available.

It will take time to settle down when local business grab up the opportunity created by imported products become expensive. However, setting up manufacturing units will take time.

I understand the pain of the people specially the poor one but it is like treating the cancer to survive the cancer you have to go through a tough procedure of chemo. ALthough things are still messy on political sides but IA we will pass through this phase and will get back on track. It will take atleast couple of year to settle down.

4 percent would be party supporters

regards

Not party supporter, bring some other party I don't mind but answere me few things:

1. How are you going to repay the loan without taking tax from everyone who is making money? Dont we all know that the super store at the end of our street is making like crores but paying no income tax? Or am I living in another Pakistan?
2. How can you bring in employment by making the import difficult and expensive? If there is any other method them I am ready to listen otherwise dont we know that every second product in the market was of China and our local manufacturers were suffering.
3. I understand that inflation is hurting us but in long run inflation of imported products is necessary to support local manufacturers which will create jobs and then people will have money to buy even these expensive product. This is how economy works.

 

[Bilal.]

I hope it doesn’t dissuade decision makers from continuing the painful but necessary reforms. There is no other way if we want to come out imbalances and impracticalities created in our economic structure over decades.

While slowly the intensity of hardship might decrease but I think it will take 5-10 years to correct all the structural issues and underlying problems with our economy.

Top laundry list:

1. CAD
- increase export
- increase productivity
- increase competitiveness
- increase exportable surplus
- increase import substitution
- crackdown on hundi


2. Budget/Fiscal Deficit
- increase Tax to GDP to ~18% in the mid term
- fix SOE losses
- create balance in our tax sources and increase quality of tax, I.e., More direct taxes, much less dependence on import duties

3. Overall competitiveness and bottleneck removal

- increase ease of doing business
- decrease debt to GDP ratio to ~40%
- increasing savings rate to 30-35%
- energy reforms: local source based energy. No more high guaranteed returns. No more guaranteed capacity charges. Removal and retirement of circular debt
- up-spilling and right skilling our workforce. TEVTA’s should become integral part of a strategic program to achieve this
- development of SEZs

4 Governance reform
- updating hiring/promotion mechanisms of bureaucracy on modern HC lines
- right skilling and up skilling bureaucracy
- use of technology and automation to expedite processes and curb corruption

 

[The Accountant]

I hope it doesn’t dissuade decision makers from continuing the painful but necessary reforms. There is no other way if we want to come out imbalances and impracticalities created in our economic structure over decades.

There is a reason that there is no politician on the economic teams. Economic team comprises of following:

Shabbar Zaidi - Tax reforms.
Reza Baqir - Banking system reforms.
Abdul Hafeez Sheikh - Finance Advisor
Abdul Razzak Dawood - Commercial Advisor

But only few knows that above team is to address the current issues of economy and the real architect who is designing the long term economic restructuring of Pakistan Economy is Dr. Isharat Hussain. He is of the view that there is no short term solution to our problems as short terms solution implemented during various regimes have fallen a part. The key to his plan is all inclusive growth. Previously growth was being pushed through either loans, aids, imports, mega infrastructure projects, or consumer financing.

As per my discussion with him his view of all inclusive growth is providing opportunities of growth and providing enablers of growth to every person of the society. TO practically implement he is trying to re-establish past glorious institutes like Pakistan Agri Finance Bank, PICIC and other institutions that can work independently on his merits. In October and November they hire Professional CEOs of 56 government organizations based on merit. However, he was of the view that actual benefits of all this structural changes cannot be felt earlier than 5 years time.

Lets hope Imran Khan survives the pressure and let this economic team keep on continue the painful task to re-emerge as economic power in a decade's time.

 

[Bilal.]

There is a reason that there is no politician on the economic teams. Economic team comprises of following:

Shabbar Zaidi - Tax reforms.
Reza Baqir - Banking system reforms.
Abdul Hafeez Sheikh - Finance Advisor
Abdul Razzak Dawood - Commercial Advisor

But only few knows that above team is to address the current issues of economy and the real architect who is designing the long term economic restructuring of Pakistan Economy is Dr. Isharat Hussain. He is of that there is no short term solution to our problems as short terms solution implemented during various regimes were fallen a part. The key to his plan is all inclusive growth. Previously growth was being pushed through either loans, aids, imports, mega infrastructure projects, or consumer financing.

As per my discussion with him his view of all inclusive growth is providing opportunities of growth and providing enablers of growth to every person of the society. TO practically implement he is trying to re-establish past glorious institutes like Pakistan Agri Finance Bank, PICIC and other institutions that can work independently on his merits. In October and November they hire Professional CEOs of 56 government organizations based on merit. However, he was of the view that actual benefits of all this structural changes cannot be felt earlier than 5 years time.

Lets hope Imran Khan survives the pressure and let this economic team keep on continue the painful task to re-emerge as economic power in a decade's time.

I have updated my post with what I believe are the key areas that need addressing. Have a look.

 

[The Accountant]

You are right about all the targets.

However, there is no short term solution to achieve them. Lets pray for those who are working hard for our nation. They are having a really tough time. Its not just pressure of extreme target but also negative comments by those for whom they are working are really hard breaking. The recent one month leave by Shabbar Zaidi is evident of such problems. The guy left 55 Rs. a month job (excluding profit sharing from Ferguson) for a mere couple of lacs to serve the country but we are cursing him.

Can't say anything else other than to ask Allah to give us Hidayat.

I have updated my post with what I believe are the key areas that need addressing. Have a look.

 

[Bilal.]

You are right about all the targets.

However, there is no short term solution to achieve them. Lets pray for those who are working hard for our nation. They are having a really tough time. Its not just pressure of extreme target but also negative comments by those for whom they are working are really hard breaking. The recent one month leave by Shabbar Zaidi is evident of such problems. The guy left 55 Rs. a month job (excluding profit sharing from Ferguson) for a mere couple of lacs to serve the country but we are cursing him.

Can't say anything else other than to ask Allah to give us Hidayat.

Exactly. That is just a high level list of challenges. There so no short term or easy and painless way to fix them. That’s why I hope the decision makers remain steadfast and fix it once and for all for the sake of our future generations and are not dissuaded by petty short term thinking that has brought us here in the first place.

 

[B.K.N]

These surveys are fraud. Next elections main pata chala ga awam kis ka sath.

 

[Musafir117]

Brass your ballz if you have and take big big breath open the window look out side then smell the coffee or sip a tea, still not figured out then head towards sand or soil dig a bit and put your neck on that hole. Rest we figure out.
Cheers

 

[-blitzkrieg-]

IPSOS survey: 79pc say country heading in wrong direction

Listen

ISLAMABAD: Contrary to the government's claim about revival of economy, a consumer confidence survey shows a bleak performance where inflation, unemployment, increasing poverty and burden of taxes are among the top worrying issues.

91 percent respondents were not comfortable about purchasing a car or home in December 2019, as this number stood at 90 percent earlier in August 2019.

There were four major concerns/worrying aspects for respondents, as 81 percent considered increasing inflation as major concern, 79 percent found unemployment, 56 percent increasing poverty and 55 percent burden of taxes as major worrying issues in line with results of survey undertaken in December 2019.

About 79 percent respondents replied that the country was heading towards a wrong direction so there was no hope of any improvement in their lives over the next six months.

IPSOS, a global market research firm, conducted the survey in Pakistan for December 2019 from both rural and urban population with same sample size undertaken in August 2019 and itsManaging Director Abdul Sattar Babar shared the startling findings of the survey with the media by stating that there were 31 percent respondents who had witnessed losing of job by themselves, their relatives or someone of their acquaintances in last one year mainly because of worst economic conditions.

There are 30 percent individual respondents who considered unemployment as the top worrying issue in Pakistan, then 29 percent considered higher inflation, 11 percent burden of taxes and 6 percent rising poverty.

This indicates that 76 percent worrying issues were related to worst economic situation. Interestingly, contrary to the perception, only 2 percent respondents considered corruption, bribery and nepotism as the major worrying issue in Pakistan. Same thing applied to the case of media, as only 2 percent respondents found that decreasing freedom of speech and censorship was a major issue.

Only 4 percent and 3 percent respondents considered terrorism and increasing prices of electricity as major issues. Only 2 percent considered power load shedding as major issue.

It has changed altogether as few years back such survey showed that load shedding was the major issue before witnessing improvement with installation of new power plants.

The combined findings of the survey for December and August 2019 showed that 81 percent considered increasing inflation as number one issue, while 79 percent found unemployment as the second major issue.

When the survey asked the respondents whether they were satisfied or unsatisfied with the way things were going in Pakistan, only 4 percent said they were very satisfied, while 40 percent were very dissatisfied.

When asked about current economic situation, only 3 percent found the situation very satisfactory but 40 percent were very dissatisfied.

Most alarmingly, 79 percent respondents found that the country was heading towards a wrong direction over next six months, while only 21 percent said the 6 month future direction was on the right path.

The survey found that the average global consumer index stood at 48.5 while in Pakistan it was on much lower side and clinched 32.8 index indicating that it was almost 16 indices lower than global average.

In comparison with BRICS countries such as Brazil, Russia, India, Turkey, China, Pakistan's performance remained much lower on the current economic index, expectation index, investment index and jobs index.

The more worrying aspect of the survey showed that the results of Pakistan compared with different regions including Asia Pacific, Middle East/North Africa, G-7 countries and BRICS, Pakistan’s performance was on much lower side and stood at the lowest ebb among all global and regional economies.

Pakistan’s national index stood at 32.8 while global average was 48.5, Asia Pacific 52, Middle East/North Africa 50.3, G7 48.4 and BRICS 51.6, indicating that Pakistan was at the bottom among all emerging and regional economies of the globe.

https://www.thenews.com.pk/print/599832-ipsos-survey-79pc-say-country-heading-in-wrong-direction

Surveys are like toilet tissue paper (regardless whatever party they are against)

 

[313ghazi]

PTI has to use 4 years of its term to do what needs to be done regardless of public opinion. The final year should be about hand outs, sweeteners etc to win votes.

This strategy will only work if they don't ignore the quick wins. PTI must throw money at the quick wins. The little things that blight the lives of common people which people can see change. Fixing pot holes, energy supply, access to water, traffic, price of essential commodities, common crime...

 

[Bilal.]

Surveys are like toilet tissue paper (regardless whatever party they are against)

Exactly, these are opinion of people without the knowledge of the matter at hand.

Do we rely on surveys to find the treat of a cancer patient or how to fix a broken car or how to run a factory?