2 in 10 Pakistanis believe country is on right track: Ipsos survey

ISLAMABAD: Only two in 10 Pakistanis surveyed believe the country is on the right track, with optimism higher among some groups, a survey conducted by market research company Ipsos shows. Men are more optimistic than women, while rural residents show more optimism than those in urban areas. Of the four provinces, respondents in Khyber Pakhtunkhwa were the most optimistic about Pakistan’s economy. The survey also found that confidence in the country’s direction has fallen to 22pc, following a 40pc peak earlier this year amid US–Iran tensions. The drop indicates a sharp reversal of recent gains, returning to levels broadly comparable with the Covid-19 period. The survey, conducted last month, included interviews with more than 1,000 people from all four provinces of Pakistan, as well as Islamabad, Gilgit-Baltistan and Azad Jammu and Kashmir (AJK). The most pressing issues mentioned in the survey include economic anxiety, unemployment and inflation. When asked about the current state of the economy, only one in five respondents said the economy was strong. Among respondents, men were more optimistic than women, and young people were more optimistic than older people. Furthermore, residents of Khyber Pakhtunkhwa, Sindh and Balochistan were more optimistic than those in Punjab. Respondents identifying as lower-middle-income also showed more optimism than those in other income groups. As many as 7pc of respondents said they feel comfortable making household purchases, with comfort higher among young people, the upper-middle class, urban residents and respondents in Sindh. The level of comfort with household purchases has returned to Covid-era levels after a period of stabilisation amid global economic pressures. The survey shows that only two in 10 respondents expect the economy to strengthen, with optimism concentrated in Khyber Pakhtunkhwa and Balochistan, affluent areas, rural areas and among older respondents. “Expectations for the economy have declined as rising economic pressures drive a gradual return of pessimism. Personal financial optimism has fallen to 31pc amid weaker sentiment and continued sensitivity to geopolitical shocks such as US–Iran tensions,” it stated. It also found that confidence in personal financial situations has fallen to 31pc, with relatively higher optimism among youth, men, rural residents, respondents in Punjab and Balochistan, and upper-income groups. “Confidence in investment remains low at 14pc after a period of stabilisation, with higher optimism among the upper-middle class, respondents in Balochistan and Khyber Pakhtunkhwa, and among men. Comfort in making major purchases remains low at 5pc, stabilising after earlier gains during and after the Pakistan–India conflict,” it said. The findings show that only one in five Pakistanis feel secure in their jobs, with higher confidence among men, young people, mid-career cohorts and rural residents. Job security confidence, which had nearly doubled over the past two years, has now fallen to 17pc amid US–Iran tensions.