KARACHI:
I am writing to express my deep concern about the current economic situation in Pakistan. It is quite evident that the country’s economy has been facing numerous challenges, especially in recent times, including a sharp increase in the prices of consumer goods and a decline in the value of the rupee. A historic high inflation rate has affected the purchasing power of the people, making it more and more difficult for them to meet their basic needs. The rising prices of food items, in particular, have put a considerable burden on the common people. Also, the weakening rupee has had a huge impact on business dealings, as costlier imports have raised the cost of manufacturing of local products — something that has a direct bearing on the pockets of the common man.
Under the circumstances, the government needs to take urgent measures to address the economic challenges facing the people. The government must take steps to control the back-breaking inflation rate and ensure that the prices of goods remain affordable for the common man. The government must also take sustainable steps to stabilise the value of the rupee to ensure that businesses can continue to import the raw materials they need, and keep the prices of local goods in control.
Saim bin Saleem
Karachi
Published in The Express Tribune, July 23rd, 2023.
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