Inflation jinx

Pakistanis are gripped in inflation, and there is no way out. Despite statistical gimmicks and some sermons from the corridors of power to address this menace, nothing substantial is on ground.

As of last week, the cost of living has soared to new heights for the fifth time in a row marking an increase of 38.28%.

The stirring reasons are as usual such as the exorbitant rise in petroleum prices, inflated electricity and gas tariffs, and a zero control over market mechanisms to bring down prices of essential products. So pathetic is the situation that even if POL prices are cut down marginally, not a scant relief is witnessed by masses in any of the shelves of price-tag, and this is all owing to lethargy and a callous politburo at work that regulates the market.

The recent efforts of the government, nonetheless, have borne fruit in terms of checking smuggling, and taming the greenback flight in its rightful domain.

This proves that unscrupulous elements are in cahoots and do not understand anything but use of institutional force to check price vandalism.

This necessitates a firm policy wherein the government must be on the vigil and on-guard, and involved in microeconomic management.

At the same time, it also establishes that the price control bureaucracy and district administration are corrupt to the core, and are responsible for the plight of the masses.

The way out that seems viable as far as controlling prices and bringing down abject stagflation is a rundown stringent management.

Promoting growth on market supply and demand, and intervening in setting the price tab are indispensable.

From this week around as petroleum prices are supposed to come down, it should come as a test case to see to it that its positive spillover reaches in price domains of essential commodities. With international mosaic on the verge of another supply chain fiasco, as Ukraine and the Mideast boil over, Pakistanis deserve state protection to have a smooth sailing in, at least, having two accessible square meal.