Rising inflation in Pakistan has not only broken the backs of the people but is also having a negative impact on business.
Two factors are currently showing inability of inept Government; First, Pakistan is an agricultural country. Despite the fact that things can be made cheaper by focusing on agriculture, wheat is being imported from other countries. Second, Sindh is rich in gas resources but due to mismanagement of the provincial government, it is encountered with shortage of gas supply. Keeping in mind, According to ‘The consumer price index’ that sets up consumer goods called CPI, A Pakistani citizen spends 34.58 per cent on food, 26.68 per cent on house rent, electricity, gas, water and 8.6 per cent on clothes and shoes. Means, one spends 7% on hotel, 6% on transport fares, 3.8% on education and 2.7% on health. Just leave such statistics for a while and remember the causes of Inflation. Unequal distribution of wealth contributes to inflation. When the cost of living increases compared to income, inflation rises. Stockpiling, illegal black marketing and supply disruptions lead to inflation. Debt-ridden foreign loans weaken economies. Excessive printing of banknotes to cover government spending and economic deficits spreads inflation.
A little fact that highlights the situation of Pakistan is Economic instability cannot end unless the government prioritizes economic stability over self-interest.
Rising fees from private hospitals, doctors and schools, and expensive medicines are also a major source of inflation.
For those who live on rent are the most affected lower class, who live in rented houses. Rising rents for houses and shops over the last ten years have also led to a steady rise in demand, which no government has ever tried to control.
Not only does the government seem powerless to control inflation, but the members of its subordinate price control committee do not have the capacity to give the government any advice on how to control rising prices. In this country, honor is getting cheaper and bread is getting more expensive.