KARACHI:
Pakistan is currently on the brink of a financial default amid a dwindling economy. The masses are struggling to get by as gas and electricity bills are skyrocketing. Essential food items and medicines are becoming unaffordable for most people.
Employers have been compelled to either reduce salaries or lay off employees to cut costs. The floods of July-August 2022 destroyed many crops including cotton and rice. A large proportion of cattle livestock was also lost during the floods. As many as 30 million people were displaced and most have still not returned to their homes. The looming food shortages due to the non-issuance of Letters of Credit (LCs) along with the country’s failure to produce enough crops will raise the likelihood of hunger and malnutrition.
Naturally, the hardest hit will be the most vulnerable groups. There is also an increased risk of an impending health crisis. Despite this, the country’s stakeholders appear to be oblivious to the problems crushing the masses. The mainstream media has also failed to highlight these issues and instead focused on political gimmicks. The government needs to take robust decisions to stabilise the economy as well as tackle looming shortages. A long-term strategy must be implemented to create favourable conditions for investment to improve capital inflow and create employment for different segments of society.
Sanaullah Bhatti
Islamabad
Published in The Express Tribune, February 19th, 2023.
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