By Staff Reporter
ISLAMABAD: Minister for Poverty Alleviation and Social Safety Shazia Marri has said a strong and stable economy is vital to ensure social protection of the people. She demanded corrective actions to stabilise the economy in order to meet the basic requirements of the populace while speaking at an economic conference on Tuesday in Islamabad. A healthy economy, according to her, is a source of strength for any country. She claimed that the lives of the poor are badly impacted by a weakening economy.
The federal minister said that despite several interventions in the political system of Pakistan and the war against terrorism and extremism, we as a nation were strong enough to stand for our country and put it on the path of progress and stability. Shazia Marri quoted one of the well-known proverbs, adding, “Strong economy is a wellspring of national strength.” She asserted that “economic is the beginning and the end of everything” and that “you cannot make any reform without having a strong economy.”
We are members of the world community, she declared. In terrible moments like disasters or calamities, our worldwide friends have always offered assistance to us, and I am extremely delighted to convey my gratitude for them. Shazia Marri gave an overview of her ministry and stated that it is making serious efforts to raise the socioeconomic standing of the underprivileged. The living standards of the country’s poorer sectors are eventually the most impacted by all the shocks the economy must endure.
Mentioning the alarming indicators faced by the country, the minister said that Pakistan is ranked among 43 countries which are most exposed to poverty while 54 percent of its population is vulnerable to poverty due to health shocks.
She mentioned that around 52 million people in the country are living below poverty line while 30 percent of the households experience food insecurity so the whole state of economy impact the population of the country as well as poverty ratio.
The minister went on to explain that Shaheed Mohtarma Benazir Bhutto was the creator of the Benazir Income Support Program, which was launched in 2008. The initiative offers the eight million families financial assistance as well as other services. The main need of this programme is to register the female household member in order to extend the benefits. Since the nation inherited a destabilised economy from the previous administration and had a 38.2 billion dollar trade deficit when it took office, she claimed, we must take the proper steps to guarantee economic stability and ensure that the poor people are able to escape poverty.
According to an IMF research, Pakistan’s GDP might rise by close to 33 percent if women’s labour force participation were to be on level with men’s. Shazia Marri noted this. She cited an ILO research when she claimed that Pakistan’s GDP might rise by up to 9% if the gender gap in female labour force participation and employment was reduced by 25%. The federal minister stressed the necessity of providing incentives for the agricultural industry to improve productivity.
