Rising inflation and government

Written by The Frontier Post

Prime Minister Imran Khan instructed his economic team to give a special focus on the development projects and measures to control the inflation while formulating the upcoming annual budget on Sunday. Prime Minister was chairing a meeting to discuss the next annual budget and national economy, he said that besides ensuring the completion of ongoing development projects, new projects should also be designed in accordance with the public needs. The prime minister also sought proposals from the senior party leadership regarding the next budget. The participants were told that the next budget should be development-oriented with full attention towards improvement of growth ratio. It was said that the pandemic had impacted the economies globally, however the economic activity was going on in Pakistan owing to the government’s prudent policies. It was told that despite COVID-19 situation, revenue collection had been recorded at almost double before the current lockdown comparing April last year. Moreover, the prime minister was also briefed about the comprehensive strategy devised to control the inflation.

Inflation has become the biggest problem for the PTI government at time and it failed to overcome this menace over 3 years tenure in the office. Despite absence of any fascinating agenda, rising inflation provided an effective tool to the opposition to ride on the government’s back. The continuous defeat in the recent byelections including in NA 249 Karachi, it is a clear expression of the people dissatisfaction over PTI’s performance during last three years. The poor performance has led to the extraction of the PTI from the Constituencies it won during 2018 election. Presently, it became difficult for PTI Spokespersons to defend their party politics despite being in the power for about 3 years. In fact, criticizing the opponents while being in the opposition was an easy job for PTI instead earning or maintaining that popularity through service delivery. According to reports, after each failure Prime Minister use to bust on PTI media team for not projecting government’s performance and achievements properly. Actually, no one in government benches is ready to accept this bitter fact that it is not the issue of projection, in fact, it is the problem of delivery of services and performance of the government. Which cannot be coverup through tall claims. A common man is completely dissatisfied from PTI’s performance because PTI changed their lives from middle class to poor and from poor to the below poverty line through the phenomenon of change, and so far government remained failed to halt the rising trend of inflation.

According to Pakistan Bureau of Statistics (PBS) report, Pakistan’s consumer inflation (CPI) rate jumped to 11.1 percent on a year-on-year basis in April 2021 as compared to an increase of 9.1 percent in the previous month and 8.5 percent in April 2020 mainly due to increase in prices of food items, fruits, and clothing and footwear and other items of daily use. According to reports, it became difficult for the public to buy commodities from government arranged fixed price points due to rush, ill- management or shortage of items such as flour, sugar, or ghee etc. Government has replaced former Finance Minister Dr. Hafeez Shaikh on accusations of failure in controlling inflation but till time new Finance Minister cannot be able to cure this illness. The government must understand that the inflation is its real enemy and if it could not tackle the issue successfully it would be disastrous for the government in coming days.

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The Frontier Post

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