Rising inflation
The rate of inflation in the country has jumped to 30-year high at 21 per cent compared to the previous year, according to figures released by the Federal Bureau of Statistics this week. This record inflation is seen to be a result of soaring electricity, gas and petroleum rates. The bad news is that the rate of inflation is expected to climb even higher and at a rapid pace in the coming months. In this, most of the blame goes to international oil prices which continue to rise. The government has no control on this but at the same time it can work towards more efficient use of oil and power. It is in this area that more needs to be done. Take for example the power conservation strategy adopted by this government. Almost all the points that were part of this strategy are being ignored by both the government and the public.
Another area where more can be done is in the supply of essential food items. There have been many instances where shopkeepers indulge in profiteering and hoarding. Despite promises to come down hard on such elements, little has been done in this regard. Similarly, the rise in prices gives adulterators a chance to exploit the situation. The government has to work harder in softening the blow on the people. Rising inflation will hit the poor particularly hard since their household budgets make up a relatively large percentage of their earnings and given at the same time the government is planning to phase out subsidies that aim to help precisely this very segment of the population.
Posted on: 15-July-2008
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Source: The News (http://www.thenews.com.pk)
Another area where more can be done is in the supply of essential food items. There have been many instances where shopkeepers indulge in profiteering and hoarding. Despite promises to come down hard on such elements, little has been done in this regard. Similarly, the rise in prices gives adulterators a chance to exploit the situation. The government has to work harder in softening the blow on the people. Rising inflation will hit the poor particularly hard since their household budgets make up a relatively large percentage of their earnings and given at the same time the government is planning to phase out subsidies that aim to help precisely this very segment of the population.
Posted on: 15-July-2008
Share:
Source: The News (http://www.thenews.com.pk)
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