If we talk about inflation in 2024 in Pakistan, inflation plays havoc in the country. As we know very well, Pakistan is an agricultural country. A major portion of the economy is covered by agriculture, but this portion is decreasing continuously due to increasing inflation day by day. Food item prices increase very vigorously. Due to these high prices, a layman can't afford good food to eat. Inflation is eating the pockets of the layman. The value of the Pakistani rupee is dropping like a stone. This impacts our trade because when we trade with other countries, we have to pay them in their currency. Our 300 rupees is equal to $1 in America, so the decreasing value of the rupee also has a bad impact on transport. Transport prices are shooting through the roof because petrol prices are skyrocketing as we import petrol at high prices, all due to the value of the rupee. The borrowing policies are one of the major causes of inflation. We borrowed trillions of dollars from other countries but did not return them. In this way, they make some rules for getting debt again. The latest IMF rule increases the taxes on people. The monster of inflation is covering all of Pakistan, single part by single part, shading tears of blood. What will be the future of Pakistan? Will the economy of Pakistan be destroyed? In the end, Pakistan may also become ruined due to this inflation. It is a ground-to-earth request to policymakers to tackle these causes and problems which I mentioned earlier; otherwise, Pakistan may be no more.
Note: inflation in Pakistan soared to 37.97% in May 2023.
GULSHER HASHMI
Lahore
Very interesting information.
ReplyDeleteAgreed👍 Interesting information
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