Saifuddin Sheikh, Executive Director of Pakistan Economy Watch (PEW) on Tuesday said inflation is decreasing in dozens of countries, but it is increasing continuously in Pakistan and there is no possibility of a reduction.
The main causes of inflation in Pakistan which has made life difficult for the majority include poor governance and endless elitism, he said.
Saifuddin Sheikh said that all the resources are being spent on the welfare of the elite therefore poverty is increasing and the middle class is disappearing in the country.
In a statement issued here today, he said that the burden of wrong priorities and benefitting the elite falls on the poor who are reeling under inflation.
The price of flour, meat, rice, chicken and sugar along with other items is continuously increasing in the country and their export and smuggling are also growing rapidly.
He noted that the statements regarding action against the profiteer mafia by the top authorities are meant to feed the public a lollipop of satisfaction, which has nothing to do with reality.
All the important policies are designed to benefit the elite which increases the suffering of the people instead of reducing it.
Due to the selfishness of the elites and the avoidance of necessary reforms, the economy has not been able to develop and instead of reducing poverty, it is increasing it, he added.
Politicians and other influential consider it their right to plunder national resources while paying tax is considered as an insult.
Businessmen also prefer to get subsidies and packages through various pretexts instead of competing in the international market and when they have a lot of black money, they get the government to announce an amnesty scheme, he observed.
