Sunday June 16, 2024

Countering inflation

September 23, 2023

The country is grappling with a tough economic crisis, macroeconomic instability, and political uncertainty. The recent hike in petroleum prices has only worsened our economic woes by exacerbating the already backbreaking inflation rate. Our high import bill is one of the main drivers of inflation in the country.

Hence, in order to give some relief to the ordinary citizens and reduce their financial stress, the government must take some harsh and urgent steps, including transitioning away from imported fuel and developing our own renewable energy resources. We should also tax those economic sectors where earnings are high, increase agriculture productivity, and initiate schemes to upskill the bulk of our workforce.

Jhangir Kakar