Poverty and exports

In its Pakistan Development Update report, the World Bank has observed that poverty in Pakistan has increased during 2022-23, primarily due to record-high food and energy prices, along with other factors such as low wages, diminished purchasing power, and the devaluation of the Pakistani rupee. Another contributing factor to the escalating inflation may be the routine export of various food products by Pakistan.

During the July-September 2023 period, the country exported rice, sugar, meat, fruit, and other produce, amounting to a value of $1.28 billion. It raises a pertinent question: has the government ever reflected on the true cost at which we earn foreign currency? And, more importantly, is it worth the toll it takes on our domestic economic stability?

Hussain Siddiqui

Islamabad