‘Spiraling price hike adds to miseries of people’

Citizens hit hard by surging gas and electricity tariffs, coupled with skyrocketing petroleum prices

KARACHI:

The unrelenting surge in prices has plunged the lives of impoverished families into a state of despair, yet the government's lack of concern to lessen inflationary pressures has left them grappling for respite, lamented Altaf Shakoor, the chairman of the Pasban Democratic Party (PDP) on Saturday.

Shakoor underscored the staggering magnitude of food inflation, emphasising that it now shatters all prior records. The costs of commodities such as wheat flour, rice, sugar, and vegetables are persistently soaring, yanking them beyond the reach of those with modest incomes.

At the same time, surging gas and electricity tariffs, coupled with skyrocketing petroleum prices, have only exacerbated the challenges confronting Pakistanis, rendering their daily survival an even more uphill endeavour. Regrettably, the government seems helpless or least bothered in tackling this situation.

"More than half of our budget succumbs to external loans and their associated interest," Shakoor observed. Expressing concern over the thirst of agents from international lending institutions within the corridors of power, he said they are bent upon dragging Pakistan into an escalating vortex of debt dependency.

He drew attention to the historical verity that no nation has ever flourished through overindulgence in loans; rather, the quagmire of debt siphons away resources and kindles the fires of poverty, famine, and ailment across the nation.

Shakoor proffered a suite of compelling imperatives to mitigate the crisis. Primarily, he advocated for a revival of the ration card system, positing that elemental kitchen necessities should be extended to low-income citizens at discounted rates. He endorsed interest-free loans, thus empowering citizens to acquire solar panels and thereby unshackle themselves from the stranglehold of exorbitant electricity costs.

 

Published in The Express Tribune, August 13^th, 2023.