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Pakistan’s (mis)leading economic indicator

47 0
30.04.2024

The upward movement of the stock market, such as the KSE-100, usually leads to optimism among businesses, statisticians and policymakers.

They celebrate these figures as the sign of a national economic revival and widespread prosperity. This outlook is enthusiastically promoted, signalling a new era of growth and wealth that is purportedly set to benefit the entire economy.

However, this narrative often misses the stark reality faced by the broader population, particularly those struggling with poverty and lacking access to basic human rights.

The gains reflected in stock market numbers do not inherently result in direct benefits for these vulnerable groups. Despite the celebratory declarations from economic circles, actual improvements in living conditions and economic opportunities for the majority are typically minimal. This disconnect highlights a major bias in the rhetoric used by some economic leaders and policymakers.

Individuals who most vocally promote the narrative of economic prosperity – driven by bullish market trends – are mostly those who benefit the most from such economic conditions.

This group often includes wealthy business owners, investors, and high-level economic analysts. While they herald an economic turnaround, their perspectives and gains are not reflective of the broader societal experience. This situation points to a significant disparity in who benefits from economic growth, with the wealthy seeing substantial gains while the impoverished continue to struggle.

The insistence on proclaiming economic success based on stock market performance, therefore, can be seen as not only misleading but profoundly selfish. Such declarations often ignore the harsh realities faced by millions who do not partake in the fruit........

© The News International


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