Finances for lower income groups.


Byline: Maj-Gen (r) Tariq Jawaid - Lahore

WE are obsessed by a class structure in our society where we are identified by our outlook, lifestyle and wealth. Most population comprises the working class, starting from the lowest income group to the highly paid individuals.

This constitute almost 80 per cent of the total population. The living of this entire range of working classes is based on the division dictated by their income groups.

The lower the income, the lesser the space for occupants. Resultantly, a housing scheme of small residential area units is constructed irrespective of the size of a family. Likewise, higher income groups live in posh areas in houses which are beyond their needs.

This clearly demonstrates that our living is not need-based; rather it is status-based. At the same time the entire class composition has been created in a way where even if a higher status family wants to live in a need-based accommodation, there is no provision which provides the desired environment for their living.

In future, we have to look forward to a need-based living arrangements rather than a status-based living. It may sound an irrelevant talk because of Covid-19. But if we analyse the present economic crunch being faced by every segment of our population, extraordinary measures should be adopted.

In phase one, all large house owners facing the crunch should consider hiring out additional spaces or liquidate sellable portions.

Cash flow is the need of the hour. It is no use holding a property of millions of rupees when one cannot mobilise finances for basic needs. Realising cash flow for small businesses and joint ventures will help start alternative businesses.

Alternative arrangements for doing businesses would require generation of capital which is not expected from current businesses as there are no buyers. Already there has been a boom in online businesses and their related business of delivery...

To continue reading