Background: Several independent and inter-dependent factors contribute in high rates of perinatal mortality (still births and early neonatal deaths). The Aim of this study was to identify community based myths and obscure beliefs that affect maternal health, and to find socio-economic and psychological co-relates impacting on PNM. Methodology: A small scale, community based study was carried out in June, 2012 at squatter settlements of Karachi, Pakistan during undergraduate electives at Aga Khan University Karachi. A pretested structured questionnaire was administered to married women of child bearing age (15-49 years) with a history of perinatal mortality. Results: Study showed that out of 55 successfully surveyed women, 63.6% did not take antenatal care; 40.9% due to 'infertility' myth; 22.7% had no access. Generally women were of poor health; 52.7% weighed 40-50KGS, 43.6% were severely anaemic. The literacy rate among surveyed women was very low; 63.6% were illiterate. During pregnancy, 34.5% did household work for 6-8 hours in a typical day; and 38.2% were pressurized for sons. The majority (40%) of husband's worked as fisherman and 76.4% had their income < 5,000 Pakistani rupee (<51.33 US dollar) per month. 47.3% of their babies were Low birth weight (<2.5kg) and 38.2% died in first 12 hours; asphyxia caused 30.9% of these deaths while 29.1% were due to pre-eclampsia (hypertension and protein in urine during pregnancy). However, 14.5% mothers believed it was due to supernatural powers. Conclusion: In order to reduce perinatal mortality, it's important not only to make antenatal care available but also acceptable and accessible. Due efforts are required in educating women about the health benefits of antenatal care, and increasing women's overall awareness in order to uplift their physical and mental health and enabling them to contribute towards social and economical growth.