A survey has revealed a significant rise in the number of people purchasing groceries and essential items on credit.
The study conducted by Gallup Pakistan highlighted that nearly half of Pakistan’s population relies on credit for daily needs due to limited purchasing power, a situation exacerbated by ongoing economic challenges.
Despite a decrease in inflation, its benefits are not reaching the masses, it said, adding that the burden of credit shopping is particularly pronounced among less educated individuals and the working class, with 61% of this demographic now resorting to credit, up from previous years. Even among employed and educated citizens, 51% have reported an increased reliance on credit, the survey maintained.
The findings shed light on the failure of government price control teams to enforce price regulations effectively, further straining household budgets. Experts warn that unless economic relief measures are implemented, the trend of credit-based shopping is likely to deepen, posing risks to financial stability for millions of households.