Using data collected from 159 households in a mountainous village of Ghizer District in Gilgit-Baltistan, this paperexamines the prevalence, penetration and severity of poverty in the mountain region of Pakistan. The paper analyses household-specific variables to determine their contribution in increasing (or otherwise) the per – capita income of residents. The results suggest that, although women actively participate in livelihood activities, the high female to male ratio does not contribute to enhancing incomes. The authors argue that investing in productive assets, in addition to the land, will help people to escape from poverty. Keywords: Dependency Ratio, Participation rate, Poverty gap ratio, Severity of poverty