Inflation in pakistan
(Shumaila Soomro, sukkur)
Inflation is rising in prices
of basic commodities. Undoubtedly, Pakistan is facing inflation presently.
Trading Economics stated that “Pakistan's consumer price inflation jumped to
31.5% in February of 2023, the highest rate since June of 1974.” The
consequences of inflation are questionable. As the blessed month is knocking the
door, it will be burdensome for low waged incomer to provide bread and butter to
their children. The outdated revenue collection methods by government in which
poorer become poorest, and richer become richest, is one of the root cause of
inflation. On the other hand, inadequacy of foreign reserves is worsening the
worst situation. However, there are ways to tackle inflation including rising of
interest rates by state bank of Pakistan so; it will be more expensive for
buyers to get mortgages and funds. Moreover, the government can implement
several fiscal policy measures by implementation of price control, and
encouraging investment and economic growth.