Deconstructing inequality

More often than not, many fail to realise the difference between the causes of global problems and their effects. Instances of heinous crimes, increasing intolerance, greed and corruption are all effects brought about by the overarching problem of inequality — the consequence of which is moral deprivation. With history as our guide, it is rather evident that the rising rate of inequality is by no means an emergent problem but rather a created one. As a result, the distribution of wealth remains extremely polarised with just 2% of the people controlling more than 90% of the global wealth. According to reports, 85 individuals have the same wealth as half the people on the planet. It is impossible to imagine such a stark division.

Thus the gap between the rich and poor has already spiraled out of control. Poverty has been rising and rising, and the rate of malnourishment has skyrocketed in recent years. In the case of Pakistan, it is estimated that an additional 88 million to 115 million people will be pushed into extreme poverty this year, due to rising inflation coupled with the fallout of the Covid-19 pandemic. In the midst of worsening conditions, the question remains: what can a single developing country such as Pakistan do to combat such an issue? The first and foremost responsibility should be to provide the poor with basic rights, facilities and opportunities in order to improve their standard of living.

In this respect the provincial government of Punjab has provided a way forward in which their Growth Strategy 2023 promises to focus on regional equalisation and human capital development. The authorities have emphasised the need to give special attention to small businesses because they receive only 6.4% of private-sector credit. Furthermore, they have also reduced the cost of land by introducing a simpler lease policy. Such initiatives may not solve the problem completely, but will help the government provide temporary relief to the people, if implemented properly. It is only by working at the ground level that we can build the foundations of an egalitarian society.

Published in The Express Tribune, November 15^th, 2020.

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