‘Poor economic governance cause of inflation’

LAHORE:Current rise in inflation in the country is outcome of poor economic governance while the successive government failed to control it. Rise in negative behaviour of the general public will be seen in coming days as situation is worsening further.

These views were expressed by the discussants in the Jang Economic Session on ‘Continuous Rise in Inflation – Growing disappointment in public is alarming’. The panelists were Abdur Rasheed Sindhu, Nabeela Shaheen, Hussain Ahmed Sherazi, Qaisera Sheikh and Rozi Rizvi while moderated by Sikindar Lodhi.

Abdur Rasheed Sindhu suggested that there was a need to evolve a strategy for bringing down the prices. The prices of sugar have increased but the jaggery has been selling at a higher price for six years. The production cost and income of the producers should be reviewed before labeling the inflation. The people should change their priorities and look where they are spending and what they are earning. The government should also consult with the experts to tell the general public how to spend.

Nabeela Shaheen said that the general public already changed their preferences which resulted in negative changes in the society. People are not visiting their relatives. Inflation is on the rise while availability of public transport is on decline, along with the availability of substandard goods, intolerance is increasing in the society and domestic conditions are deteriorating. According to a survey, divorce rate is increasing due to non-existence of comfort and peace. Trust in public institutions has ended. The people are fed up with system and want to know when the things will fix.

Hussain Ahmed Sherazi said that inflation was the biggest challenge which was increasing intolerance and agony among masses while people became sick after getting electricity bills. The largest political parties made agreements with IPPs which led the country and masses to destruction. Electricity tariff will increase every month under the IMF conditions so prices will not come down. The trade deficit is on rise as imports are $80 billion and exports are only $30 billion. Qaisera Sheikh said that Pakistan has defeated world in inflation index and economic conditions were worsening than Nigeria. Over 1,600 textile mills are closed which are source of exports. Unemployment is on rise in Faisalabad after closure of industries there which was resulting in negative behaviours in the society. The government has no plan to control the inflation and could not give anything to people.

Rozi Rizvi said that increase in disappointment, poverty, suicide incidents, youth leaving the country, non-existence of long-term policies all are alarming. People should boycott the politicians and rulers instead of boycotting electricity bills, fruits and vegetables, gas bills and petrol. Pakistan has become titanic which is drowning while media is playing music. There is need to end class system to control the inflation and end free facilities to ruling elite.