Introduction
In Pakistan cases of suicide among families crushed under the burden of financial distress and rising debt are becoming alarmingly frequent A recent heartbreaking incident shocked the nation when an entire family took poison in their car and ended their lives The tragedy raised serious questions about the countrys socioeconomic structure and the increasing helplessness among ordinary citizens .
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Incident Details
According to media reports the family left behind a video message before taking their lives stating We are drowning in debt These words revealed the immense financial pressure and psychological torment they were suffering The head of the family explained that they had borrowed money from various sources but due to compounding interest the debt amount kept increasing beyond their capacity to repay .
The Trap of Debt and Interest
In Pakistan many people borrow money from online lending apps or informal sources These loans often come with extremely high interest rates If repayment is delayed the interest grows rapidly pushing borrowers into an inescapable trap .
One example is from Rawalpindi where Muhammad Masood took out a loan through an online app to pay for his childrens school fees and household expenses When he failed to repay on time the mounting interest overwhelmed him Tragically he took his own life .
The Plight of Farmers
Pakistans farmers are also suffering heavily under the weight of debt Muhammad Yaqoob from Okara borrowed money from a bank to grow crops However due to the low market price of crops and increasing input costs he could not repay the loan
Now he owes nearly 19 million rupees and faces constant threats and harassment from lenders.
The Curse of Debt and Its Social Impacts
As noted by Dr Abdul Qadeer Khan in one of his articles
Taking a loan is easy but when the time comes to repay it it feels like a mountain has fallen upon you .
Debt is not just a financial burden it shatters a persons selfrespect mental peace and family life It isolates individuals and pushes them toward hopelessness and despair .
The Responsibility of Government and Society
Such heartrending events highlight the urgent need for both government and society to take action Its crucial to break the cycle of debt and highinterest lending Steps that must be taken include .
- Eliminating interestbased lending systems
- Providing interestfree loans to the poor
- Promoting financial literacy and education
Without systemic reform these tragedies will continue to claim innocent lives .
Conclusion
The words We are drowning in debt are not just the echo of one familys despair they are the collective cry of thousands of families across the country This is a national emergency that calls for compassion reform and swift intervention If left unchecked the debt crisis will continue to destroy lives erode communities and leave more families with no way out but death It is time to act so that no other family meets the same tragic fate .