The inflation rate has risen to alarming levels and every segment of society has decried the rising prices of essential items. The surging food and energy prices have brought the government under immense pressure in recent months as household bills have created growing resentment. Despite its best efforts, the government has miserably failed in controlling the spiraling inflation in the country.
The government has held rising global markets responsible for the rising prices and has shrugged off responsibility. However, the truth remains that the current state of inflation started with Imran Khan took control and the government cannot make excuses that it is not responsible for the current crisis. The prime minister’s tenure has only benefited the elites who took full advantage of him to exploit the masses at the expense of the nation’s economy.
The prime minister has made lofty claims that the economy is growing and the business community is progressing. He should perhaps take a look at the lives of the people and investigate why the common man is worried. Businessmen have been raising prices and the agencies who are supposed to probe them remain silent spectators being blackmailed by private companies.
Forget the past decade, just compare the prices in the past three years. The price of chicken eggs has increased from Rs60 to Rs180 per dozen, fresh milk from Rs60 to Rs160 per litre, mutton from Rs750 to Rs1,600, yellow pulses from Rs110 to Rs220 per kg, and edible oil has reached Rs120 to Rs400 per litre.
The government still holds the previous governments responsible for inflation or the global markets but will never admit its own misgivings.
We used to pay Rs11.72 per unit of electricity before the PTI government, but are noe paying Rs24.6 which does not include other charges. Will the government blame others for doubling the price of electricity? The previous government not only subsidized electricity but also controlled prices. The PTI government subsidised the construction industry and gave an opportunity to the elites to whitewash their black money. Pakistan did not even witness 10% increase in construction activities.
Car prices have gone up by 70% and the government seems satisfied with the rising sales rather than realising that people are compelled to spend their savings on expensive vehicles. The government failed to pay any attention to public transport in the past three years and people were forced to buy cars or motorcycles. The increased use of petroleum products lead to higher oil imports and widens the trade deficit.
Instead of blaming the global market or previous governments for their failure, the PTI government should improve its institutions and work for the betterment of the economy. Despite the passage of over three years, it still does not have an economic model that will convince the people that the country will progress in the coming years.
