Abstract Acknowledgement We are highly grateful to almighty Allah who gave us the power to complete this report and we would also like to a very special thanks to our honorable teacher to Mr. Tahir Iqbal DIHE , for providing us a golden opportunity to do this research whose help , stimulating suggestions, knowledge, experience and encouragement helped us in all the times of study and analysis of the project. without whom this report was almost mpossible. It was a really good learning experience working under him.
We would also thanks to all of those who supported us in any respect during the completion of the project.
There are many traditional celebrations throughout the world. There is Christmas, Thanksgiving, and Easter. Not everyone or every culture, so to speak observes these celebrations. It depends on your background, culture, and beliefs. Every year within our culture and religion we celebrate (Eid) al Fitr. Eid is the Muslim holiday that marks the end of Ramadan, the ninth month of the Islamic calendar, the month in which the Qur’an was revealed to the Prophet Muhammad it is the month of fasting Eid is an Arabic word meaning “festivity”, while Fi? means “conclusion of the fast”; and so the holiday celebrates the conclusion of the thirty days of dawn-to-sunset fasting during the entire month of Ramadan.
The first day of Eid, therefore, falls on the first day of the month Shawwal. Eid is almost like Christmas, with family gathering, festive attires, giving of gifts, and food, this holiday is very memorable.
In Pakistan, as the holy month of Ramadan comes to an end, charities and markets find themselves overcome by a burst of activity. We call ourselves Muslims, yet we don’t want to lose out on this wonderful opportunity to rip people off in the holy month of Ramazan.
We create an artificial price hike, raise the prices to double and triple to earn a windfall profit… because who knows when the chance to ‘hit the hardest where it hurts the most’ will come again. The entire nation adorns a garb of piety from the evening of the first day of Ramazan till Chand Raat. Western society has a lot to learn from us Muslims; they don’t quite understand the essence of unity, do they? Like naive creatures they actually lower their prices around Christmas time and go on a complete slash of prices right after Christmas.
These people actually want consumers to afford the luxuries of life and celebrate with their loved ones. It seems like they haven’t learnt their lessons of a capitalist society well enough. No wonder people in that part of the world live longer and are hideously obese! On Eid day and the holidays that followed, we saw numerous pictures on television channels of people celebrating the occasion in parks, on the beach and at family gatherings but this is just one face of Eid. For many others — perhaps, tens of thousands of people — Eid remained a far less festive occasion.
The parents who could not buy clothes or new shoes for their children ; nor did those unable to put together a decent meal even on this occasion. During the religious festival, the household spending touches its peak Our survey revealed that in Karachi even low income group spend nothing less than Rs1000 per person in the family. This is inclusive of all expenditures that include spending on dresses, footwear, accessories, edibles, household durables and transport. The informal survey indicated the varying composition of spending in the family budget of different social classes.
The proportion of spending on poor increases as income climbs. While in families of modest means, the Eid budget is consumed by basic needs, food, clothing, etc . Problem Statement The commencement of the month of ramadan is going to bring in not only the frenzy of the upcoming Eid festival but also something else which is increased tension and worry that is caused by the uncontrolled price hike of the daily essentials. Each year before the month of ramadan, the prices of the daily essentials increase twise or even thrice as much.
Its difficult for lower income families to manage their budget in Ramadan and Eid due to increases of prices. The poor have got poorer and those who thought that they were well off a few years ago are busy reassessing their value – something to do with fitting into the elite. , a person (unskilled worker or the people at the lowest rung such as guards, sweepers or seasonal workers) making Rs5,000 (about $75) per month living off a make- shift hutment in a shanty township (kutchi abbadi) supporting a family cannot spend his full salary on Eid shopping.
The market sources confirmed that inflation has jacked up the prices but the rise in prices of fabric, footwear and ordinary accessories is much less in percentage as compared to hike in the prices of edibles. “The food inflation is backbreaking high at 25-35 per cent. For a variety of reasons, the rates of ordinary local fabric and garments have risen marginally by 5-10 per cent”, a market analyst observed.
According to a Gilani Research Foundation Survey carried out by Gallup Pakistan, 88% of Pakistanis said their preparations for Eid suffered due to inflationary pressures. Eid is our religious festival and give the massage of sacrificing and share the joys but now days it becomes celebrate as cultural festival and we forgot this massage | | | | |Variable to be Studied | | |Independent variable: | |• Price hike | | | |Dependent variable: | | | |• Family of Middle class | |• Family of working class | |• Family of lower class | Research Hypothesis
H1:- Does the price hike affect the budget of lower income families H2:- Does the price hike affect the purchasing power of lower income families H3:- Does the price hike affect the Ramadan spending of lower income families H4:- Does the price hike affect the Eid celebrations of lower income families. H5:- Does inflation affect the Eid shopping very highly Research Objective The main objective of this research is Find out and analyze the problems which are faced by lower income families due to high inflation that how they manage their budgets specialy in Ramadan and how the celebrate their Eid with low income. Sources of Information Primary Sources:- Questionnaires Interviews
Secondary Sources:- New Articals Online Articals Websites Method Of Data Collection A self administered questionnaire interview was conducted to collect the data from the target population on basis of non probability based sampling techniques. The people belonging to above mentioned three classes will be approached for this purpose. Questionnaires were developed for the interview which were distributed in different social Classes. To obtain the relevant information, population interviewed consisted of house wives and people from all walks of life. The questionnaire was designed to measure the impact of price hike on low income families.
Likert scale was used for dependent variable different social classes independent variables price hike ranging from 1 to 5 where 1 is coded as “strongly agree” to 5 is coded as “strongly disagree”. Sampling Techniques Convenient Sampling:- Non Probability based Convenient sampling technique has been used for this purpose of data collection. Sample was taken from the Karachi city, through structured questionnaire , Instruments of Data Collection:- Close ended Questionnaire with likert scale has been used for data collection Sample Size: A total of 300 questionnaires were administered to potential respondents chosen from various areas of Karachi. A total of 250 usable questionnaires were returned, giving a response rate of 87%. Data Analyses ; Findings Discussion ; Conclusion Recommandation List Of References Apendix
👋 Hi! I’m your smart assistant Amy!
Don’t know where to start? Type your requirements and I’ll connect you to an academic expert within 3 minutes.get help with your assignment