EDITORIAL

The crisis has affected every Pakistani, especially the middle class. As a result, it is becoming difficult for people with low income to get two meals a day. According to the data released by the National Bureau of Statistics, the inflation rate was around 24.5 per cent last month. As a result, all the essential commodities, including flour, ghee, sugar, pulses, meat and other commodities, have become expensive, and their prices continue to increase.

This wave of inflation is a sign that our economic policies are incorrect. The current coalition government came to power with the claim that we have experienced economists who understand Pakistan’s economic problems and know how to solve them. But unfortunately, till now, no such economic understanding could come out from the ranks of the government, which could be used to stop the rising inflation. Instead, the current economic problems should be solved, and such policies should be made to reduce the inflation rate. Arguments are coming from the government’s side that this inflation is ubiquitous and an international phenomenon. The governmental functionaries attribute that Pakistan and other countries face this problem due to international recession. They further claim that the previous government’s poor policies (Tehreek-e-Insaf) have also played their role in this present mess. They say if the Tehreek-e-Insaf government had taken timely measures, these days would not have been seen.

All these things are in their place, but the seriousness of the situation tells us that if the situation’s pulse is not kept, the problem can take a severe turn. Foreign exchange reserves have reached such a low level that business is not being done in the country, the stock market suffers from severe depression, and foreign investment is not coming. The flood has destroyed the infrastructure in large part of the country, the government needs more money to pay off the external debt, and the purchasing power of the commoner has been severely reduced. These are the factors causing a further increase in the rate of inflation.

Ramadan is about to come. We have another way of welcoming this blessed month. Hoarding has already reached its peak before this holy month. Prices of essential items are touching the sky. People go to the market to buy something to eat, but the prices are beyond their reach.

There is a need for the government to solve the above problems by formulating such policies on an emergency basis so that poor people can get two meals a day. Even the government claims that $9 billion in aid will revamp the economy. However, this has yet to be the case. Economies do not hinge upon assistance. Pakistan must grow its lands and manufacture all the products by enhancing the skill levels of the nation. Lastly, each Pakistani must have the skill to earn a suitable income.