‘Analysis of Shahbaz Rana’s Story on IPSOS Survey about Pakistan Economy’
IPSOS Group (an acronym of Institut Public de Sondage d’Opinion Secteur) is a multinational market research and consulting firm with Headquarters in Paris, France.
It issues various reports on monthly and quarterly basis.
Regarding Pakistan, it issues Consumer Confidence Index Report on quarterly basis, besides few other reports on monthly basis.
Shahbaz Rana has published a story on latest IPSOS Consumer Confidence Index Survey.
Analysis of the Shahbaz Rana story and previous IPSOS Survey reveals that facts have been twisted to portray Pakistan’s economic condition in negative tone.
Shahbaz Rana has twisted the fact and played with figure of 60% of the people who consider the economy as very weak, not clearly indicating that % of such people has actually reduced. In fact, when compared to IPSOS Survey of first quarter 2023, this % of people thinking negatively about Pakistan’s economy has reduced from 70 to 60 percent.
He has further twisted the fact that unemployment and increasing poverty were amongst top most concerns for Pakistanis failing to mention that no of people perceiving unemployment as a worrying issue has decreased from 63 to 57 %, poverty from 50 to 41 %, burden of additional taxes from 33 to 15 %, when compared with IPSO Svy of first quarter of this year.
He has mentioned 480 % increase in gas prices for poorest households. However, according to Ministry of Energy, Power and Petroleum, gas prices increase was adjusted to ensure that impact on 57% domestic consumers is minimal and gas bill of poor families will not exceed Rs 900.
He has failed to mention that ability of Pakistanis to make major/ household purchases which was on decline since May 22 has stabilized since last quarter.
The story also very conveniently ignores the YoY improvements of actual economic performance indicators like increased strength of Pakistan’s currency, booming stock markets, increased Large Scale Manufacturing, significantly higher crop yields and structured and empowered investment facilitation platform in shape of SIFC, amongst many other positive strides.
It is important to note that Shahbaz Rana has a history of negatively reporting on Pakistan’s economy without solid basis and evidences.
He is a paid journalist, angling on behest of those who are getting quite frustrated on increasing stability, certainty and responsibility in Pakistan’s economic handling
There are also credible reports of him being fed and sponsored by Q Block old bureaucracy who were mostly instrumental and responsible for present fiscal and eco mgmt of the country.
Links: IPSOS Consumer Confidence Survey 1Q23: https://t.co/n31CXZ92C6 IPSOS Consumer Confidence Survey 3Q23: https://t.co/bJADzTLAvy
https://twitter.com/peconomist_/status/1728046469599436988?s=48&t=G-cOBg7EkX_kBYa6eWDKdw
