Monday, August 15, 2022

Pakistan ranks least costly among 139 countries globally: Shaukat Tarin  

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ISLAMABAD: Finance Minister Shaukat Tarin on Sunday shared a cost of living index highlighting how Pakistan is least costly among 139 countries globally, ARY NEWS reported.

Taking to Twitter, Shaukat Tarin shared the cost of living index graph showing Pakistan as the least costly country, ranking last out of 139 countries being assessed for their living expenses.

He shared that a four-member family would need Rs171,783 for their living expense-minus rent- in Pakistan, a 71.52 percent lower expense than a family would require in the United States.


Even rents are 90.64 percent lower than in Pakistan as compared to United States, the finance minister shared and further added, Karachi is 79.35 percent cheaper as compared to New York as rent in the former is also 95.26 percent cheaper than the latter.

In August 2021, Pakistan was ranked the most economical country to live in with a cost of living index 18.58 while Afghanistan 24.51; India 25.14; and Syria 25.31 trail respectively.

As per the report on the cost of living index compiled by GoBankingRates Company, Pakistan is termed the cheapest country to live in.

Several organisations in the past and at present as well, have used indicators and a bunch of statistics to ascertain the countries based on their affordability for those living and earning there.

One of these companies is GoBankingRates and the company uses four metrics to determine which countries are the most affordable.

The indicators used in the study include inflationary matrices including, rent index, local purchasing power index, consumer price index, groceries index and the information compiled, compared to the cost of living in New York City, one of the most expensive cities in the world.

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