The news item titled “Consumer confidence declines in third quarter of current calendar year” published in some section of Press, which is contrary to the facts. The Survey conducted by Dun & Bradstreet and Gallup Pakistan is in line with current macroeconomic situation of Pakistan. As it is highlighted in our publication “Monthly Economic Update & Outlook Pakistan”, the economy is heading in right direction. Growth is all set to achieve 4.8% target, tax collection is above target, exports have picked up, fiscal deficit in 1Q is better than last year, above all remittances are sustaining. Consumer Confidence Index Survey (Q3 2021) is highlighting the same economic picture as communicated by Finance Division whether it is Quarter-on-Quarter or Year-on-Year comparison. Below is the factual brief outcome of the survey conducted by Dun & Bradstreet and Gallup Pakistan. • Is Country heading in the right direction: the survey reported yes for last 03 months. • Top personal concerns of public-unemployment, inflation, increase in electricity prices, tax burden and increasing poverty: People voted unemployment, inflation and increase in electricity concern decreased from last year. But they are concern of additional tax burden and indifferent to increasing poverty. • What is personal financial situation: As per survey it has improved. • Economic situation: People are indifferent on this question as few believe it improves and few believe it get weaker. • Job security: Majority feels confident about job security. • Investment climate: People are more confident in investing than last year. • Purchasing durables: More people are confident of purchasing durables like cars and home than last year. • Purchasing household items: More confident than last year. • Global Consumer Confidence: It has improved a lot from last year. But there is more room for improvement. Lastly, government efforts to create job opportunities are bearing fruit. The growth is broad based and witnessing in all segments i.e. agriculture, exports, Industry, and IT services. Government is doing its level best to reduce the trade gap and implementing policies to bring price stability.
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