INFLATION BEGETS POVERTY.

Byline: KHALIL AHMED

Mr Imran Khan, the premier of Pakistan, says that if poverty rises, we will not win war against pandemic. He is right and it is a cause of massive concern at the moment. The prime objective of the Government of Pakistan in the given circumstances must be to eliminate poverty and curb inflation. For this a fulcrum strategy is to be chalked out forthwith. The government has made a couple of attempts to ensure price stability and to stave off the long-standing issue of hoarding which is generally perceived the primary cause of price hike and soaring poverty levels in Pakistan. Actions speak louder than words. Rhetoric does not play any part in the solution of the snags rather brings about social malaise as the time elapses. There is no denying the fact that inflation spikes miseries of the poverty stricken masses and this is the foremost reason for the unrest anywhere in the world.

With the advent of the pandemic in Pakistan in the last week of February this year, there were enormous concerns about the crumbling health facilities. Pakistan with over 25,000 confirmed cases and over 600 deaths is one of the most affected developing countries. The world must come forward to help the sagging economy of Pakistan in these trying times. It was being anticipated that spike in the number of patients could bring unprecedented situation in Pakistan as has been inflicted on Italy, Spain, Iran, Germany, France, the USA and the UK. Well, it is essential to know that it is not only the health facilities but also the inflation coupled with unemployment, which have played havoc in Pakistan for quite some time and have gone unheeded in general. The ever-diminishing buying power frets not only the impoverished and the middle class but also the afluent segment of the society.

It is a stunning idea to address poverty, however, it is more imperative to address the cause. Prices of utilities have seen multiple hikes in the recent times which are well known to all and sundry. This has been one of the reasons of the soaring poverty. The incumbent government must analyze the relationship between poverty and inflation. There is one economic argument that inflation does not hit the poorest of the nation but the middle class. This does hold true to some extent, however, along with the middle class, the impoverished segment of the society cannot escape from the brunt of the hike in prices of the staple foods, medicines and essential items. Inflation...