The middle class is the most vital segment of a society. It is the engine that promotes economic and cultural growth.
CHICAGO: The middle class is the most vital segment of a society. It is the engine that promotes economic and cultural growth. In Pakistan, the middle class is shrinking because of the tsunami of inflation.
The poor and the middle class shop at Sunday bazaars in Pakistan. But due to inflation caused by the greed of merchants, mill owners, middlemen and inept leadership, customers are forced to do just “window shopping” of foodstuffs.
Usually at the entrance of most Sunday Bazaars, there are large signs that display the control rates for foodstuff, but none of the vendors sell their commodities at these so-called ‘controlled’ prices. The economic disparity in society is increasing: the poor are getting poorer and the rich are getting richer.
Unless policy makers pay attention to stabilising and expanding the middle class by taking measures to curb inflation and promote growth in energy and manufacturing sectors, Pakistan’s economic growth rate will continue to remain the lowest in the south Asian countries.
Dr A Khan
Published in The Express Tribune, November 20th, 2010.
