Inflation and worst impacts for Pakistani lives

ASAD SAJJAD BURIRO
Inflation is a consistently rising prices , which can be translated as a decline of purchasing power over Time. The rate at which purchasing power drops can be reflected in the average price increase of basket of selected goods and services over a period of time the rise in prices, which is often expressed a percentage, means that a unit of currency effectively buys less than it did in prior periods . Inflation can be constrated with deflation, which occurs when Prices decline and purchasing power increase. Crruntly, Pakistan’s inflation rate has been raising by previous year and it is expected to continue to increase in the future.In past , it was the highest reading in Pakistan since December 1973. Currently, according to world Bank statement, the rat of inflation is 46.3% in Pakistan. Major causes of inflation, it is due to increasing in debt, increasing in money supply, the amount of money supply causes the demands for products and services to rise, which may push up rise. Moreover, the lack of good and services is a big contributor to inflation in Pakistan. Increased in oil prices , Pakistan is a nation that is several dependent on imports for numerous necessities like food , gas and oil. Due to money factors , including a lack of infrastructure investment and electricity, the cost of production has been raising in Pakistan. When the currency’s value fall down, than price of imported items rise . The devaluation of rupee has greatly boosted inflation in Pakistan because country’s reliance on imports. In addition, inflation in Pakistan is caused by combination of factors , increasing of money supply. A shortage of good and services, increased production of cost and devaluation of rupee. Impacts of inflation, the local industries are in losses, the rising inflation rate is having a negative impact on Pakistan’s industries, as it is more difficult for businesses to operate example, increased price for raw material and energy can lead to higher production costs , which can make it difficult for businesses to remain competitive additionally, the rising cost of living is making it more difficult for consumers to afford goods and services, which can lead to a decline in demand for products and services. Furthermore, the closure of local industries, which are located in Punjab province. in this way, a lot of labour community has effected because of inflation. It is more difficult to purchase expensive things for survive that’s why crime is very common in Pakistan especially in Karachi. in addition, the crime rate has been approach high in rank in Pakistan . one week ago, a person who belonged to Sikh family who’s murdered was happened in Peshawar because he was selling products in cheap Price. furthermore, robbery, snatching and theft has become common in Karachi and in side the areas, All because of inflation in Pakistan . unemployment and labour community can’t survive in this tough situation in Pakistan.unemployment rate of Pakistan will approach to 10% probably. In Sindh, the pst and jest teachers who had appointed in mid of 2022 but still thay haven’t got salary yet . Currently, it is more tough situation to survive the life for them because before appointment, they used to avail as a teacher in private sector for which they settled, so government should take stance in favor of the deprived teachers. moreover, more than one lac brain Rain people of Pakistan moved forward to go for outside the country, here is very big loss of Pakistan’s economy and development. In conclusion, firstly the government should implement monetary policies that regulate the money supply in the economy. Controlling inflation is critical challenge for Pakistan’s economy , however, the government, the government can bring inflation under the control and stabilize the economy. With a coordinated and sustained effort , it is possible to mitigate the impact of inflation on the lives of ordinary Pakistanis and create a more stable and prosperous economy of life.