The Karachi Chamber of Commerce has termed the government's decision to declare Pakistan as the cheapest country in the world as baseless and expressed doubts that low per capita income, inflation, poverty and unemployment were not taken into consideration in the Nombeu Index.
Karachi Chamber President Muhammad Idrees has said that Pakistan's claim to be the cheapest country is baseless and contradicts the ground realities.
Khoronosh is based on the index, while other key factors such as low per capita income, inflation, poverty and unemployment are not taken into account when finalizing the classification.
He said that the entire population of Pakistan has been badly affected due to the worst inflation, mainly due to high prices of utilities and continuous rise in prices of petroleum products affecting the prices of all household goods. There are more difficulties in life.
Muhammad Idrees pointed out that the World Bank estimates that the poverty rate for low- and middle-income earners is .3 3.2 per day. Facing severe food insecurity.
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