Upper Middle Class Income Pakistan

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 the last 15 years.

Upper middle class income pakistan. The overall income quintiles for all of pakistan in 2015 2016 were. It can be bifurcated into the upper middle and lower middle class with each representing a group whose economic choices vary from one another. An annual inhand income of 4 8 lacs. Interestingly even though pakistan has 5 7 of their adult population as middle class only 0 9 pay income tax i.

Only savings are 80c ie 1 5 lacs for tax exemptions. Less than 16 of middle class people pay income tax. Pakistan s middle class consumer market assessed on the basis of reports of market research companies and data from multiple sources is projected at rs30 trillion 290 billion. You are in upper class with this status to be middle class you need only one crore property and one lakh monthly income.

They manage to save some money for retirement. Hence lower middle class status starts at approx 6 lacs annual income before taxes and savings. July 2019 new july 2018 old low income. You will be part of the upper middle class.

The world bank assigns the world s economies to four income groups low lower middle upper middle and high income countries. You might not live that lifestyle but financially thats where you stand. A family of 4 which can rent a. 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.

Unlike the more common practice of using income and the standard of living to define a social class credit suisse used the measure of personal wealth band to determine the middle class. In pakistan taking into account the purchasing power parity your family is easily part of the 1. 2019 in this case. Updated country income classifications are available here.