ISLAMABAD: A study conducted by a research company has showed that though indicators have been improved a little only, one in 10 Pakistanis believes the country is heading in the right direction with males four times more optimistic than females.

However, the number of Pakistanis calling the current state of economy ‘weak’ has decreased significantly from 76pc to 60pc in the current quarter, showing a welcome change of 16pc in comparison to the third quarter of the year 2023.

The study, “Consumer confidence index survey” for the fourth quarter of the year was conducted by IPSOS in all four provinces, Islamabad capital territory, Gilgit-Baltistan and Azad Jammu and Kashmir. The sample size of the survey was 1,021.

It showed that economic problems continued to top the list of worrying issues for the citizens. However, a significant decrease can be seen in the perception of electricity prices as the most worrying issue since the third quarter of the year.

The survey showed that economic challenges had been a dominant issue for the people for many years. During the fourth quarter, 85pc people believed that inflation had been the major issue for the last one year. As many as 58pc participants of the survey said unemployment was the second most drastic issue, 39pc said the increasing poverty was the third most pressing issue.

Though a meagre 5pc Pakistanis considered economy as ‘strong’, in the fourth quarter 16pc more Pakistanis had changed their ‘weak’ economy perception compared to the third quarter. Women, urbanite and mature age groups were now even more positive.

The study showed that one in three and one in four Pakistanis expected their personal financial and economic situation in their areas getting better in the next six months.

Again, only one in 10 Pakistanis was more confident about future saving and investment, but that optimism got double within the last one quarter.

The respondents from middle income group were seen most optimistic on these accounts.

Moreover, after a continuous decline for a year and half the confidence of Pakistanis to invest in future, there was an increase of 4pc in the current quarter.

Confidence in job security has jacked up twice as much as third quarter levels though acute majority (88pc) remained less confident.

Five out of 10 Pakistanis claimed to have personally known someone who lost their job as a result of economic conditions. In comparison to the third quarter, a 7pc decrease in such claim showed the increased job stability in the current quarter.

Nine out of 10 Pakistanis were not comfortable in making household purchases, however, 3pc of the citizens were more comfortable in household purchases in comparison to the last quarter.

Despite the improvements in the current quarter, 98pc Pakistanis are still not comfortable in making major purchase like home or car, the study showed.

Published in Dawn, November 27th, 2023