Pakistan's Economic Crisis Takes Toll on Millions: Families Struggle to Survive Amid Soaring Costs and Inflation

The economic crisis in Pakistan has left millions of people struggling to make ends meet. Irshad Bibi, a former housemaid, is one of them. After quitting her job to take care of her sick husband, who has since passed away, Bibi has been left without a regular source of income.

She and her five children often go to bed hungry, with only water and a piece of bread to sustain them. To make matters worse, the cost of living has skyrocketed, with electricity prices increasing by 26 percent since the country sought a $3 billion bailout from the International Monetary Fund (IMF) in July. Bibi's electricity bill, which used to be around $5 a month, now exceeds $30.

She is not alone in her struggles. Burhan Anwar, a 45-year-old electrician in Lahore, has also been hit hard by the economic crisis. Rising inflation and fuel prices have left him with a debt of over $1,300. Anwar had to sell his car to make ends meet and was forced to send his children to cheaper government-run schools.

His monthly income has dropped from $113 to $38, while the cost of living continues to rise. Others, like Fatima Hassan, have had to make difficult choices due to the economic downturn. Her husband, a former factory manager in the UAE, has been unemployed for two years. Without his income, they have been barely surviving on savings and help from family.

Hassan is often unable to afford meat for her children and has resorted to rationing electricity usage to keep her bills low. She worries about falling sick and not being able to afford medical expenses. The rising cost of living has led to protests in cities across the country. Low-income households are particularly vulnerable, as the increase in the cost of power has eaten away at their disposable income.

Economist Ammar Habib Khan suggests that the government should reduce taxes to support these households, as sales taxes and other charges make up a significant portion of the electricity tariff. He believes that consumers should not have to bear the burden of the government's fiscal deficit, which is a result of inefficiency and excessive spending.

As Pakistan grapples with the economic crisis, it is clear that urgent measures are needed to alleviate the hardships faced by its citizens. Without significant intervention, the situation for many will continue to worsen, and the most vulnerable members of society will be the ones to suffer the most.