Uncontrolled inflation has become the single most worrisome issue for Pakistanis. From day one, the PTI-led government has been continuously blaming the past governments — as well as the mafias, cartels, hoarders, and extortionists — for inflation, instead of taking necessary measures to control it. According to a recent report, the inflation rate remained in double digits for the second successive month and stood at 10.9% in May.
It is no secret that the International Monetary Fund forced Pakistan to increase the interest rate and electricity prices that doubled the cost of debt servicing and pushed inflation upward. The incumbent foreign minister also recently said that the Fund “put a gun to our head to set the interest rate at 13.25%”. The authorities need to take serious action to curb inflation and provide relief to the masses.
Published in The Express Tribune, June 7th, 2021.