Social divide growing as 115 families control 85pc output

LAHORE - Social divide is growing rapidly in the country, as just 115 families are controlling over 85 percent of the national output. Increasing numbers of people are plagued by insecurity, poverty and unemployment in the country, said Pakistan Society Watch (PSW). It said the level of poverty has increased many folds in country; it is concentrated everywhere except for few urban centres where polarisation of income is not acute. Dr Murtaza Mughal, President of the PSW observed that real income continues to fall for the poor and increase for the rich due to some dubious policies. Rising food prices and increasing number of people employed against insecure and low-paid jobs has made living barely possible for majority, he said The duration of unemployment among unwaged is longer than any period in the history of the country. Education is getting more dependent on the social and economic background of a student minimising chances of growth for unfortunate, he said. He said that the system is pushing social inequality to worrying levels while widening social gulf has reached explosive proportions. Policies need a revisit otherwise millions more will be put to disadvantage that can help country enter an era of unprecedented economic and political turmoil, said Dr Mughal. Rising inflation has led authorities to lift interest rates frequently which can cause collapse of many business at a time when investment has become a hope, he warned. Once there were 22 families that controlled approximately 70% of national wealth; today we have around 115 families that may be controlling more or less 85% of national output, he said. It is now widely believed that the ruling class is seeking to make the working class pay for their mistakes and the prevailing situation is a test of the Governments resolve with the people, he said.

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