Income Of Lower Middle Class In Pakistan

Figures for income level of rs4 000 and less to as much as rs20 000 were quoted to be the cut off level for the lower class.

Income of lower middle class in pakistan. The situation on the ground is that production has gone down due to the unavailability of foreign currency to import critical raw materials new machinery to retool and the unpredictable economic operating environment. For middle class cut off was rs50 000 to rs100 000 and less. The proposed measure of the middle class has a sense of stability attached to it making it less susceptible to sudden inflationary shocks than an income based measure. Z13 r20 a14 keywords.

The world bank assigns the world s economies to four income groups low lower middle upper middle and high income countries. Of the view that the middle class is expanding dr hafeez pasha has analysed the latest household integrated economic survey hies data to conclude that the middle class has actually shrunk over. Low and middle income countries this is a list of countries with low income or middle income economies. It can be bifurcated into the upper middle and lower middle class with each representing a group whose economic choices vary from one another.

The classifications are updated each year on july 1 and are based on gni per capita in current usd using the atlas method exchange rates of the previous year i e. I have reservations on the upgrading of zimbabwe from a low income to lower middle income status as from 1 july 2019. Middle income economies are those with a gni per capita of more than 1 045 but less than 12 736. For the current 2016 fiscal year low income economies are defined as those with a gni per capita calculated using the world bank atlas method of 1 045 or less in 2014.

To be a member of the middle class in 2015 according to credit suisse a pakistani. 2019 in this case. High income economies are those with a gni per capita of 12 736 or more. Being a lower per capita country pakistan has lower prices and consequently a reduced middle class threshold.

The study concludes by quoting from an interesting analogy on the middle class in pakistan by burke 2010 who says in pakistan the hierarchy on the roads reflects that of society.